Guinness Atkinson Asset Management Inc Sells 1,100 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Guinness Atkinson Asset Management Inc trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,620 shares of the specialty retailer’s stock after selling 1,100 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Alibaba Group were worth $561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BABA. TRUE Private Wealth Advisors grew its stake in shares of Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 112 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares during the period. Sivia Capital Partners LLC grew its position in shares of Alibaba Group by 3.6% in the 4th quarter. Sivia Capital Partners LLC now owns 3,825 shares of the specialty retailer’s stock valued at $324,000 after buying an additional 134 shares during the last quarter. Wynn Capital LLC increased its stake in shares of Alibaba Group by 1.0% in the fourth quarter. Wynn Capital LLC now owns 13,013 shares of the specialty retailer’s stock valued at $1,103,000 after buying an additional 135 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after acquiring an additional 139 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BABA has been the topic of several analyst reports. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays decreased their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a report on Monday, October 7th. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Stock Up 3.3 %

Alibaba Group stock opened at $85.16 on Monday. The firm has a market capitalization of $202.93 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 0.40 and a beta of 0.30. The firm’s fifty day moving average price is $86.06 and its two-hundred day moving average price is $87.78. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. On average, equities research analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal 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.