Alibaba Group Holding Limited $BABA Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 35.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,289 shares of the specialty retailer’s stock after selling 1,233 shares during the period. Portside Wealth Group LLC’s holdings in Alibaba Group were worth $260,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 1248 Management LLC bought a new stake in Alibaba Group in the first quarter valued at $26,000. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC boosted its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new position in Alibaba Group in the 1st quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of Alibaba Group in the second quarter valued at approximately $26,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of BABA opened at $159.04 on Thursday. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The stock has a market capitalization of $379.48 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.40 and a beta of 0.19. The firm’s 50 day moving average is $168.80 and its 200-day moving average is $137.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein increased their price objective on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Jefferies Financial Group lifted their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Bank of America increased their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. dropped their price target on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $190.18.

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.