Patriot Financial Group Insurance Agency LLC Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

Patriot Financial Group Insurance Agency LLC decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 42.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,758 shares of the specialty retailer’s stock after selling 2,735 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Alibaba Group were worth $399,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the second quarter worth $25,000. GPS Wealth Strategies Group LLC boosted 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter worth about $27,000. Concord Wealth Partners increased its position in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Finally, Asset Dedication LLC increased its position in Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.1 %

Shares of NYSE:BABA opened at $99.82 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm’s 50 day moving average price is $94.77 and its 200 day moving average price is $83.60. The stock has a market cap of $253.29 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share 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 company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the company earned $2.47 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on BABA. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Bank of America increased their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Loop Capital reaffirmed a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.