Means Investment CO. Inc. Sells 743 Shares of Alibaba Group Holding Limited $BABA

Means Investment CO. Inc. trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 4.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 16,930 shares of the specialty retailer’s stock after selling 743 shares during the period. Means Investment CO. Inc.’s holdings in Alibaba Group were worth $1,920,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Accent Capital Management LLC raised its position in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock valued at $209,000 after purchasing an additional 82 shares during the last quarter. Greenleaf Trust raised its holdings in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock valued at $1,102,000 after buying an additional 85 shares during the last quarter. Principal Securities Inc. raised its holdings in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock valued at $2,225,000 after buying an additional 89 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock valued at $1,134,000 after buying an additional 93 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Alibaba Group by 1.0% during the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock valued at $1,109,000 after acquiring an additional 94 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 8.6%

NYSE:BABA opened at $158.76 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50-day moving average of $146.36 and a 200-day moving average of $127.50. The company has a market cap of $378.50 billion, a PE ratio of 18.46, a PEG ratio of 1.88 and a beta of 0.18. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67.

Analysts Set New Price Targets

Several brokerages recently issued reports on BABA. Bank of America raised their target price on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Susquehanna raised their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Benchmark increased their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $188.06.

Alibaba Group Company 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.