Federated Hermes Inc. Reduces Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Federated Hermes Inc. reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 93.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,257 shares of the specialty retailer's stock after selling 1,159,900 shares during the period. Federated Hermes Inc.'s holdings in Alibaba Group were worth $5,851,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fiduciary Alliance LLC grew its holdings in shares of Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer's stock worth $4,052,000 after buying an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock valued at $12,275,000 after acquiring an additional 139,134 shares during the last quarter. SRN Advisors LLC lifted its position in Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer's stock valued at $1,611,000 after buying an additional 9,663 shares in the last quarter. ORG Partners LLC raised its position in Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer's stock valued at $813,000 after purchasing an additional 11,064 shares during the period. Finally, Leo Wealth LLC acquired a new stake in Alibaba Group during the 4th quarter valued at $1,734,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

NYSE:BABA traded up $3.84 on Thursday, reaching $88.26. 13,378,642 shares of the company's stock traded hands, compared to its average volume of 16,262,641. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $80.41 and a 200-day simple moving average of $77.40. The firm has a market cap of $223.96 billion, a PE ratio of 20.36, a P/E/G ratio of 0.43 and a beta of 0.33. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $90.46.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to analysts' expectations of $248.32 billion. During the same period in the previous year, the firm posted $2.47 earnings per share. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analyst Ratings Changes

BABA has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Bank of America increased their price objective on Alibaba Group from $103.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $107.61.

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.