Focused Wealth Management Inc Trims Stake in Alibaba Group Holding Limited $BABA

Focused Wealth Management Inc lessened its position in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 61.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,100 shares of the specialty retailer’s stock after selling 3,383 shares during the period. Focused Wealth Management Inc’s holdings in Alibaba Group were worth $375,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Alibaba Group in the 1st quarter worth about $26,000. Ransom Advisory Ltd bought a new position in shares of Alibaba Group during the first quarter valued at approximately $26,000. Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group in the second quarter worth approximately $26,000. NewSquare Capital LLC lifted its stake in shares of Alibaba Group by 65.0% during the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 130 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership boosted its holdings in Alibaba Group by 33.3% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 100 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BABA shares. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Macquarie restated an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Susquehanna lifted their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. Arete Research set a $172.00 price objective on shares of Alibaba Group in a research report on Tuesday, December 9th. Finally, UBS Group reaffirmed a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Read Our Latest Stock Analysis on Alibaba Group

Alibaba Group Stock Up 1.6%

NYSE:BABA opened at $149.70 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The company has a 50-day moving average of $161.83 and a 200 day moving average of $142.46. The firm has a market cap of $357.20 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.30 and a beta of 0.33.

Alibaba Group News Roundup

Here are the key news stories impacting Alibaba Group this week:

About Alibaba Group

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co?founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high?profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

Further Reading

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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