Bank of Nova Scotia Has $4.34 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Bank of Nova Scotia lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 60.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,196 shares of the specialty retailer's stock after selling 79,542 shares during the period. Bank of Nova Scotia's holdings in Alibaba Group were worth $4,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BABA. Lindbrook Capital LLC increased its holdings in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after purchasing an additional 101 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after buying an additional 108 shares during the period. TBH Global Asset Management LLC lifted its position in Alibaba Group by 2.4% in the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock worth $407,000 after buying an additional 112 shares in the last quarter. Xponance Inc. boosted its stake in shares of Alibaba Group by 4.5% during the 4th quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer's stock valued at $230,000 after buying an additional 116 shares during the period. Finally, Ashton Thomas Securities LLC grew its holdings in shares of Alibaba Group by 4.0% during the 4th quarter. Ashton Thomas Securities LLC now owns 3,193 shares of the specialty retailer's stock valued at $271,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

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Analysts Set New Price Targets

BABA has been the subject of several recent research reports. Bank of America increased their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Citigroup decreased their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $150.36.

Alibaba Group Stock Performance

NYSE BABA traded down $4.13 during midday trading on Wednesday, hitting $108.15. The company had a trading volume of 7,618,961 shares, compared to its average volume of 20,536,101. The firm has a fifty day simple moving average of $127.13 and a two-hundred day simple moving average of $104.74. The stock has a market cap of $256.89 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a fifty-two week low of $68.36 and a fifty-two week high of $148.43.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Equities analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

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.