Procyon Advisors LLC Trims Stake in Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,513 shares of the specialty retailer’s stock after selling 799 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new position in shares of Alibaba Group during the 3rd quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Alibaba Group during the 3rd quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after buying an additional 175 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the 3rd quarter worth approximately $30,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Alibaba Group during the 3rd quarter worth approximately $31,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 1.0 %

Shares of BABA stock traded up $0.74 during mid-day trading on Thursday, hitting $72.33. 3,551,797 shares of the company’s stock were exchanged, compared to its average volume of 18,998,645. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock has a market cap of $183.54 billion, a price-to-earnings ratio of 13.21 and a beta of 0.47. The stock has a 50-day simple moving average of $73.39 and a two-hundred day simple moving average of $77.64. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $105.05.

Alibaba Group (NYSE:BABA) last issued its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $2.44 earnings per share. Equities analysts expect that Alibaba Group Holding Limited will post 7.97 EPS for the current fiscal year.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Morgan Stanley restated an “equal weight” rating and issued a $90.00 price target (down previously from $110.00) on shares of Alibaba Group in a report on Friday, December 1st. JPMorgan Chase & Co. lowered their price target on Alibaba Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, February 8th. Benchmark lowered their price target on Alibaba Group from $150.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Barclays lowered their price target on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Finally, Robert W. Baird lowered their target price on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.44.

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.