Northeast Financial Consultants Inc Sells 1,774 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

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Northeast Financial Consultants Inc reduced its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 18.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,629 shares of the specialty retailer’s stock after selling 1,774 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Alibaba Group were worth $1,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. Morgan Stanley increased its position in shares of Alibaba Group by 31.9% in the first quarter. Morgan Stanley now owns 18,356,646 shares of the specialty retailer’s stock valued at $3,569,998,000 after acquiring an additional 4,443,526 shares during the last quarter. State Street Corp increased its position in shares of Alibaba Group by 6.7% during the 1st quarter. State Street Corp now owns 37,975,313 shares of the specialty retailer’s stock worth $7,385,439,000 after purchasing an additional 2,368,050 shares during the last quarter. Veritas Asset Management LLP raised its stake in shares of Alibaba Group by 198.5% during the 1st quarter. Veritas Asset Management LLP now owns 2,961,015 shares of the specialty retailer’s stock worth $575,858,000 after purchasing an additional 1,969,200 shares in the last quarter. Melvin Capital Management LP boosted its holdings in shares of Alibaba Group by 111.8% in the 1st quarter. Melvin Capital Management LP now owns 2,841,577 shares of the specialty retailer’s stock valued at $552,630,000 after buying an additional 1,500,092 shares during the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Alibaba Group by 59.2% in the 1st quarter. Sanders Capital LLC now owns 3,477,963 shares of the specialty retailer’s stock valued at $781,822,000 after buying an additional 1,293,669 shares during the last quarter. Institutional investors own 47.10% of the company’s stock.

Alibaba Group stock traded down $1.72 during trading hours on Friday, reaching $251.02. 12,310,670 shares of the stock were exchanged, compared to its average volume of 19,206,986. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.14. Alibaba Group Holding Ltd has a twelve month low of $151.85 and a twelve month high of $268.00. The company has a market cap of $638.69 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.26 and a beta of 1.56. The stock has a 50 day moving average of $235.83 and a two-hundred day moving average of $213.64.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Friday, May 22nd. The specialty retailer reported $9.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $8.61. Alibaba Group had a net margin of 29.16% and a return on equity of 14.56%. The company had revenue of $114.31 billion during the quarter, compared to the consensus estimate of $108.31 billion. During the same quarter in the prior year, the firm posted $8.57 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts expect that Alibaba Group Holding Ltd will post 6.91 earnings per share for the current fiscal year.

Several research firms have issued reports on BABA. Susquehanna Bancshares upped their price target on shares of Alibaba Group from $260.00 to $275.00 in a research report on Tuesday, May 26th. Raymond James cut their target price on shares of Alibaba Group from $310.00 to $290.00 and set a “strong-buy” rating for the company in a research note on Friday, April 17th. Citigroup reissued a “buy” rating and set a $316.00 price target on shares of Alibaba Group in a research report on Friday, July 10th. SunTrust Banks reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Alibaba Group in a research report on Sunday, May 24th. Finally, Zacks Investment Research lowered Alibaba Group from a “buy” rating to a “hold” rating and set a $219.00 target price on the stock. in a report on Thursday, April 16th. Three equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $256.38.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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