Modern Wealth Management LLC Sells 808 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Modern Wealth Management LLC trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 24.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,452 shares of the specialty retailer’s stock after selling 808 shares during the period. Modern Wealth Management LLC’s holdings in Alibaba Group were worth $208,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group during the 4th quarter worth about $31,000. Sierra Ocean LLC bought a new position in Alibaba Group during the fourth quarter worth about $32,000. Kieckhefer Group LLC acquired a new stake in Alibaba Group during the fourth quarter valued at approximately $55,000. Vision Financial Markets LLC bought a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Alibaba Group in the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Alibaba Group stock opened at $132.49 on Friday. The stock has a market cap of $314.80 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.61 and a beta of 0.28. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $148.43. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $121.60 and its 200 day simple moving average is $102.45.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on BABA shares. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and upped their price target for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Barclays upped their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Bank of America upped their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Mizuho boosted their target price on Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Buy” and an average target price of $148.14.

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.