Lakeshore Capital Group Inc. Reduces Stake in Alibaba Group Holding Limited $BABA

Lakeshore Capital Group Inc. decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,052 shares of the specialty retailer’s stock after selling 801 shares during the period. Alibaba Group accounts for 1.4% of Lakeshore Capital Group Inc.’s investment portfolio, making the stock its 21st largest position. Lakeshore Capital Group Inc.’s holdings in Alibaba Group were worth $1,594,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Accent Capital Management LLC lifted its holdings in Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after purchasing an additional 82 shares in the last quarter. Greenleaf Trust increased its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after acquiring an additional 85 shares during the last quarter. Principal Securities Inc. increased its stake in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock worth $2,225,000 after acquiring an additional 89 shares during the last quarter. Institute for Wealth Management LLC. increased its stake in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after acquiring an additional 93 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in Alibaba Group by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $181.21 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $432.02 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.21 and a beta of 0.18. The business’s 50-day moving average price is $143.19 and its 200-day moving average price is $126.71. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Zacks Research upgraded Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Benchmark upped their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $184.19.

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.