Procyon Advisors LLC Cuts Position in Alibaba Group Holding Limited (NYSE:BABA)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at approximately $26,000. Brown Shipley& Co Ltd grew its holdings in shares of Alibaba Group by 3.2% during the second quarter. Brown Shipley& Co Ltd now owns 6,565 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 202 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Alibaba Group during the third quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Alibaba Group by 116.7% during the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 175 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in Alibaba Group during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. The Goldman Sachs Group reduced their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Robert W. Baird reduced their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. reduced their price objective on shares of Alibaba Group from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, Susquehanna reduced their price objective on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $115.44.

Alibaba Group Stock Performance

NYSE BABA traded up $0.74 on Thursday, hitting $72.33. 3,551,797 shares of the company’s stock traded hands, compared to its average volume of 18,998,645. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $105.05. The firm’s 50-day moving average price is $73.39 and its two-hundred day moving average price is $77.64. The firm has a market capitalization of $183.54 billion, a PE ratio of 13.21 and a beta of 0.47.

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

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.