Huntington National Bank Has $223,000 Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Huntington National Bank lessened its position in Alibaba Group Holding Limited (NYSE:BABA) by 9.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,098 shares of the specialty retailer’s stock after selling 207 shares during the period. Huntington National Bank’s holdings in Alibaba Group were worth $223,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after buying an additional 5,715,155 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock worth $188,197,000 after acquiring an additional 1,156,479 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after acquiring an additional 1,130,643 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Alibaba Group by 523.8% in the second quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after purchasing an additional 1,121,500 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BABA. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Sanford C. Bernstein upped their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Finally, Barclays lifted their target price on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Performance

NYSE BABA opened at $88.59 on Monday. The company’s 50 day moving average is $98.18 and its 200-day moving average is $85.70. The firm has a market cap of $212.12 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.39 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 quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

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.