Washington Capital Management Inc. Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Washington Capital Management Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 7,505 shares of the specialty retailer’s stock after selling 220 shares during the quarter. Washington Capital Management Inc.’s holdings in Alibaba Group were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Concord Wealth Partners increased its position in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group in the 2nd quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the 3rd quarter worth about $36,000. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group during the 4th quarter valued at about $31,000. Finally, Assetmark Inc. lifted its holdings in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $96.76 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $230.17 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. The firm’s 50 day simple moving average is $85.73 and its 200-day simple moving average is $88.46. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. As a group, equities analysts predict 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 BABA shares. Robert W. Baird boosted their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Bank of America raised their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Mizuho boosted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.13.

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.