Biondo Investment Advisors LLC cut its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,769 shares of the specialty retailer’s stock after selling 4,240 shares during the quarter. Alibaba Group comprises 1.8% of Biondo Investment Advisors LLC’s holdings, making the stock its 15th biggest position. Biondo Investment Advisors LLC’s holdings in Alibaba Group were worth $7,541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BABA. Hillhouse Capital Management Ltd. grew its position in shares of Alibaba Group by 318.7% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 6,508,438 shares of the specialty retailer’s stock valued at $1,207,511,000 after purchasing an additional 4,954,118 shares during the period. Bank of America Corp DE grew its position in shares of Alibaba Group by 32.9% in the 2nd quarter. Bank of America Corp DE now owns 10,608,066 shares of the specialty retailer’s stock valued at $1,968,114,000 after purchasing an additional 2,626,882 shares during the period. BlackRock Inc. grew its position in shares of Alibaba Group by 3.4% in the 2nd quarter. BlackRock Inc. now owns 63,108,387 shares of the specialty retailer’s stock valued at $11,708,501,000 after purchasing an additional 2,077,793 shares during the period. Cornerstone Wealth Management LLC grew its position in shares of Alibaba Group by 20,210.4% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,532,621 shares of the specialty retailer’s stock valued at $8,224,000 after purchasing an additional 1,525,075 shares during the period. Finally, Morgan Stanley grew its position in shares of Alibaba Group by 8.4% in the 2nd quarter. Morgan Stanley now owns 15,970,499 shares of the specialty retailer’s stock valued at $2,963,007,000 after purchasing an additional 1,235,562 shares during the period. Institutional investors and hedge funds own 38.86% of the company’s stock.

Several equities research analysts have commented on the company. Barclays set a $195.00 target price on Alibaba Group and gave the company a “buy” rating in a research note on Sunday, November 4th. Morgan Stanley set a $196.00 target price on Alibaba Group and gave the company a “buy” rating in a research note on Monday, November 5th. MKM Partners cut their target price on Alibaba Group from $270.00 to $245.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group cut their target price on Alibaba Group from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Finally, KeyCorp set a $203.00 target price on Alibaba Group and gave the company an “overweight” rating in a research note on Monday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Alibaba Group presently has a consensus rating of “Buy” and an average target price of $214.55.

Shares of Alibaba Group stock opened at $146.98 on Wednesday. Alibaba Group Holding Ltd has a 12-month low of $130.06 and a 12-month high of $211.70. The company has a market cap of $370.98 billion, a PE ratio of 36.47, a P/E/G ratio of 1.34 and a beta of 2.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue was up 49.6% compared to the same quarter last year. As a group, equities analysts expect that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current fiscal year.

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Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Further Reading: What are Institutional Investors?

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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