M&T Bank Corp Sells 6,702 Shares of Alibaba Group Holding Limited (NYSE:BABA)

M&T Bank Corp lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,004 shares of the specialty retailer's stock after selling 6,702 shares during the quarter. M&T Bank Corp's holdings in Alibaba Group were worth $3,901,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at approximately $32,000. Assetmark Inc. grew its position in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BABA shares. Morgan Stanley raised Alibaba Group from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Bank of America upped their target price on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Mizuho boosted 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. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Buy" and an average price target of $144.07.

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Alibaba Group Price Performance

NYSE BABA traded up $0.64 on Friday, hitting $140.59. 31,813,632 shares of the company's stock were exchanged, compared to its average volume of 18,635,841. The stock has a 50-day moving average of $105.46 and a 200-day moving average of $96.81. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $145.36. The stock has a market cap of $334.04 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 0.61 and a beta of 0.28.

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