Perigon Wealth Management LLC trimmed its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 70.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,707 shares of the specialty retailer’s stock after selling 4,069 shares during the quarter. Perigon Wealth Management LLC’s holdings in Alibaba Group were worth $368,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in BABA. M&T Bank Corp grew its position in Alibaba Group by 10.4% during the second quarter. M&T Bank Corp now owns 88,590 shares of the specialty retailer’s stock valued at $19,109,000 after acquiring an additional 8,369 shares during the period. Avestar Capital LLC boosted its position in shares of Alibaba Group by 5.2% in the second quarter. Avestar Capital LLC now owns 7,940 shares of the specialty retailer’s stock worth $1,713,000 after buying an additional 396 shares during the period. Main Street Research LLC boosted its position in shares of Alibaba Group by 15.2% in the second quarter. Main Street Research LLC now owns 49,412 shares of the specialty retailer’s stock worth $10,658,000 after buying an additional 6,532 shares during the period. Zweig DiMenna Associates LLC boosted its position in shares of Alibaba Group by 440.9% in the second quarter. Zweig DiMenna Associates LLC now owns 164,891 shares of the specialty retailer’s stock worth $35,567,000 after buying an additional 134,406 shares during the period. Finally, SlateStone Wealth LLC boosted its position in shares of Alibaba Group by 1.5% in the second quarter. SlateStone Wealth LLC now owns 16,285 shares of the specialty retailer’s stock worth $3,513,000 after buying an additional 247 shares during the period. 47.10% of the stock is owned by institutional investors and hedge funds.
BABA stock opened at $251.02 on Friday. The company has a market cap of $638.69 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.14. Alibaba Group Holding Ltd has a twelve month low of $151.85 and a twelve month high of $268.00. The business’s 50-day simple moving average is $235.83 and its 200 day simple moving average is $213.64.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $8.61. Alibaba Group had a net margin of 29.16% and a return on equity of 14.56%. The firm had revenue of $114.31 billion during the quarter, compared to analysts’ expectations of $108.31 billion. During the same quarter last year, the company earned $8.57 earnings per share. The company’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Ltd will post 6.91 EPS for the current year.
Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Alibaba Group from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 19th. Nomura Instinet upped their price objective on Alibaba Group from $240.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Bank of America restated a “buy” rating and set a $241.00 price objective (down previously from $250.00) on shares of Alibaba Group in a research note on Tuesday, May 26th. Goldman Sachs Group restated a “buy” rating and set a $276.00 price objective on shares of Alibaba Group in a research note on Tuesday, July 7th. Finally, Zacks Investment Research cut Alibaba Group from a “buy” rating to a “hold” rating and set a $219.00 price objective on the stock. in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alibaba Group presently has a consensus rating of “Buy” and an average price target of $256.38.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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