Avaii Wealth Management LLC Sells 130 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Avaii Wealth Management LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,364 shares of the specialty retailer’s stock after selling 130 shares during the period. Avaii Wealth Management LLC’s holdings in Alibaba Group were worth $569,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of BABA. Naviter Wealth LLC grew its stake in shares of Alibaba Group by 2.1% during the 3rd quarter. Naviter Wealth LLC now owns 47,259 shares of the specialty retailer’s stock valued at $5,015,000 after purchasing an additional 959 shares during the period. Tamar Securities LLC grew its stake in shares of Alibaba Group by 11.6% during the 3rd quarter. Tamar Securities LLC now owns 143,516 shares of the specialty retailer’s stock valued at $15,230,000 after purchasing an additional 14,924 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the period. Applied Capital LLC FL grew its stake in shares of Alibaba Group by 16.7% during the 3rd quarter. Applied Capital LLC FL now owns 6,633 shares of the specialty retailer’s stock valued at $704,000 after purchasing an additional 949 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Alibaba Group during the 3rd quarter valued at about $10,359,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent research reports. Bank of America boosted their price target on 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 boosted their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Truist Financial lowered their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $112.63.

Alibaba Group Price Performance

NYSE:BABA traded down $2.42 during trading hours on Thursday, reaching $99.75. The stock had a trading volume of 9,031,608 shares, compared to its average volume of 17,884,975. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The company has a 50 day moving average price of $91.46 and a two-hundred day moving average price of $81.84. The stock has a market capitalization of $253.12 billion, a PE ratio of 23.30, a PEG ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.47 EPS. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Alibaba Group Company 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.