Itau Unibanco Holding S.A. Decreases Stake in Alibaba Group Holding Limited (NYSE:BABA)

Itau Unibanco Holding S.A. decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the specialty retailer’s stock after selling 6,624 shares during the period. Itau Unibanco Holding S.A.’s holdings in Alibaba Group were worth $4,457,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BABA. Cetera Investment Advisers increased its stake in Alibaba Group by 249.0% during the first quarter. Cetera Investment Advisers now owns 98,849 shares of the specialty retailer’s stock valued at $7,153,000 after purchasing an additional 70,526 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Alibaba Group by 90.1% in the first quarter. Cetera Advisors LLC now owns 38,492 shares of the specialty retailer’s stock valued at $2,785,000 after acquiring an additional 18,243 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Alibaba Group by 264.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 91,906 shares of the specialty retailer’s stock worth $6,626,000 after purchasing an additional 66,661 shares during the period. Mather Group LLC. increased its position in shares of Alibaba Group by 315.7% during the 2nd quarter. Mather Group LLC. now owns 636 shares of the specialty retailer’s stock worth $46,000 after purchasing an additional 483 shares during the last quarter. Finally, CWM LLC boosted its stake in Alibaba Group by 32.1% in the 2nd quarter. CWM LLC now owns 13,392 shares of the specialty retailer’s stock valued at $964,000 after purchasing an additional 3,254 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 1.6 %

Alibaba Group stock opened at $85.95 on Tuesday. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $205.65 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.43 and a beta of 0.30. The firm has a 50 day moving average of $98.45 and a 200 day moving average of $86.11.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. As a group, research analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Loop Capital reissued a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Mizuho upped their price target on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Sanford C. Bernstein increased their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group 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.