Leo Wealth LLC Has $1.61 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Leo Wealth LLC lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 15,131 shares of the specialty retailer’s stock after selling 1,052 shares during the period. Leo Wealth LLC’s holdings in Alibaba Group were worth $1,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Alibaba Group during the 2nd quarter worth approximately $27,000. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group during the 2nd quarter worth $25,000. GPS Wealth Strategies Group LLC grew its position in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Register Financial Advisors LLC purchased a new stake in Alibaba Group in the first quarter worth $31,000. Finally, Asset Dedication LLC lifted its holdings in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded down $0.52 during mid-day trading on Tuesday, reaching $100.39. 10,389,075 shares of the company traded hands, compared to its average volume of 17,858,732. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The firm has a market cap of $254.74 billion, a PE ratio of 23.68, a PEG ratio of 0.55 and a beta of 0.35. The company’s 50 day moving average price is $92.70 and its 200-day moving average price is $82.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the company posted $2.47 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BABA. Truist Financial decreased their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Bank of America upped their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein lifted their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, August 16th. Benchmark reiterated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.63.

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.