M&T Bank Corp Sells 6,702 Shares of Alibaba Group Holding Limited (NYSE:BABA)

M&T Bank Corp trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 46,004 shares of the specialty retailer’s stock after selling 6,702 shares during the period. M&T Bank Corp’s holdings in Alibaba Group were worth $3,901,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. Decker Retirement Planning Inc. acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $32,000. Assetmark Inc. increased its position in shares of Alibaba Group by 225.4% during the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $60,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 0.5 %

Alibaba Group stock opened at $140.59 on Friday. The company’s 50 day simple moving average is $105.46 and its 200 day simple moving average is $96.81. Alibaba Group Holding Limited has a fifty-two week low of $68.36 and a fifty-two week high of $145.36. The firm has a market capitalization of $334.04 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 0.61 and a beta of 0.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays raised their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Robert W. Baird raised their price objective on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Citigroup raised their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Finally, Bank of America raised their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group presently has an average rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.