Sumitomo Mitsui Trust Group Inc. Sells 891 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Sumitomo Mitsui Trust Group Inc. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,232 shares of the specialty retailer’s stock after selling 891 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alibaba Group were worth $5,861,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in shares of Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after buying an additional 121 shares during the period. ICA Group Wealth Management LLC lifted its stake in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC lifted its stake in shares of Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after buying an additional 139 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Alibaba Group by 3.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after buying an additional 143 shares during the period. Finally, Concord Wealth Partners lifted 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 buying an additional 155 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA stock opened at $89.37 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50 day moving average price of $98.34 and a 200 day moving average price of $85.77. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The stock has a market capitalization of $213.99 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Alibaba Group’s revenue was up 5.2% on a year-over-year basis. Analysts forecast that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Macquarie raised 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 report on Monday, October 7th. Loop Capital reissued a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday. Finally, StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $114.53.

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.