Meitav Investment House Ltd. Has $1.92 Million Position in Alibaba Group Holding Limited $BABA

Meitav Investment House Ltd. trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.6% during the second quarter, HoldingsChannel.com reports. The firm owned 16,906 shares of the specialty retailer’s stock after selling 1,800 shares during the period. Meitav Investment House Ltd.’s holdings in Alibaba Group were worth $1,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. Brighton Jones LLC boosted its position in Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alibaba Group by 13,483.0% during the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer’s stock worth $2,640,000 after purchasing an additional 19,820 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Alibaba Group in the first quarter worth $274,000. UMB Bank n.a. increased its holdings in Alibaba Group by 33.4% in the first quarter. UMB Bank n.a. now owns 1,207 shares of the specialty retailer’s stock valued at $160,000 after purchasing an additional 302 shares during the period. Finally, RDA Financial Network acquired a new stake in Alibaba Group in the first quarter valued at $216,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Barclays lifted their price objective on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Mizuho raised their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $184.19.

Alibaba Group Stock Down 0.4%

Shares of NYSE BABA opened at $187.24 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $446.39 billion, a PE ratio of 21.77, a P/E/G ratio of 2.22 and a beta of 0.18. The company’s fifty day simple moving average is $141.95 and its 200 day simple moving average is $126.33. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

About Alibaba Group

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.