Sterneck Capital Management LLC Sells 3,709 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Sterneck Capital Management LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 14.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,345 shares of the specialty retailer’s stock after selling 3,709 shares during the quarter. Alibaba Group comprises 1.0% of Sterneck Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Sterneck Capital Management LLC’s holdings in Alibaba Group were worth $1,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Generate Investment Management Ltd bought a new stake in Alibaba Group during the 3rd quarter worth approximately $12,656,000. Nations Financial Group Inc. IA ADV increased its stake in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Alibaba Group by 7,734.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after buying an additional 266,361 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new position in Alibaba Group in the 3rd quarter worth $115,995,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 1.2 %

Shares of NYSE BABA opened at $84.49 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The firm’s 50-day moving average price is $88.51 and its 200-day moving average price is $87.36. The stock has a market capitalization of $201.51 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 0.44 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on BABA. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, October 7th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho boosted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

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.