Capital Investment Counsel Inc Cuts Position in Alibaba Group Holding Limited (NYSE:BABA)

Capital Investment Counsel Inc decreased its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,759 shares of the specialty retailer's stock after selling 4,655 shares during the quarter. Capital Investment Counsel Inc's holdings in Alibaba Group were worth $1,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BABA. Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 155 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group in the 4th quarter valued at $31,000. Sierra Ocean LLC bought a new position in shares of Alibaba Group in the 4th quarter valued at $32,000. Highline Wealth Partners LLC bought a new position in shares of Alibaba Group in the 3rd quarter valued at $36,000. Finally, Assetmark Inc. lifted its stake in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer's stock valued at $42,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Up 5.7 %

Alibaba Group stock traded up $7.70 during midday trading on Friday, reaching $143.67. The stock had a trading volume of 73,657,797 shares, compared to its average volume of 30,282,477. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $145.30. The company has a market capitalization of $341.36 billion, a P/E ratio of 29.14, a PEG ratio of 0.53 and a beta of 0.31. The company has a fifty day moving average price of $94.31 and a two-hundred day moving average price of $92.42. 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 (NYSE:BABA - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. As a group, equities analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BABA. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Bank of America raised their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup raised their target price on Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Robert W. Baird raised their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $131.93.

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.