Cerity Partners LLC Lowers Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Cerity Partners LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,571 shares of the specialty retailer’s stock after selling 37,537 shares during the quarter. Cerity Partners LLC’s holdings in Alibaba Group were worth $46,223,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group in the third quarter valued at approximately $36,000. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the second quarter valued at approximately $25,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research note on Monday, October 7th. Barclays decreased their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $83.13 on Friday. The firm’s fifty day simple moving average is $98.42 and its 200-day simple moving average is $85.87. The stock has a market capitalization of $199.05 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

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.