Alibaba Group Holding Limited $BABA Stake Lessened by Meritage Portfolio Management

Meritage Portfolio Management lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,796 shares of the specialty retailer’s stock after selling 10,466 shares during the period. Alibaba Group comprises about 1.2% of Meritage Portfolio Management’s investment portfolio, making the stock its 11th largest position. Meritage Portfolio Management’s holdings in Alibaba Group were worth $19,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC increased its stake in shares of Alibaba Group by 0.8% in the second quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after buying an additional 92 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Alibaba Group by 32.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 26,432 shares of the specialty retailer’s stock worth $2,998,000 after buying an additional 6,424 shares during the last quarter. Udine Wealth Management Inc. increased its stake in shares of Alibaba Group by 0.6% in the second quarter. Udine Wealth Management Inc. now owns 15,890 shares of the specialty retailer’s stock worth $1,802,000 after buying an additional 102 shares during the last quarter. Natural Investments LLC bought a new stake in shares of Alibaba Group in the second quarter worth $463,000. Finally, Lester Murray Antman dba SimplyRich increased its stake in shares of Alibaba Group by 23.2% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,259 shares of the specialty retailer’s stock worth $596,000 after buying an additional 992 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA opened at $158.76 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a market cap of $378.50 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a fifty day moving average of $146.36 and a 200-day moving average of $127.50.

Analyst Ratings Changes

BABA has been the subject of a number of research reports. CLSA lifted their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Benchmark lifted their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Nomura lifted their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $188.06.

Alibaba Group 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.