Scotia Capital Inc. Decreases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Scotia Capital Inc. trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 36.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,822 shares of the specialty retailer's stock after selling 20,397 shares during the quarter. Scotia Capital Inc.'s holdings in Alibaba Group were worth $2,953,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BABA. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group during the fourth quarter valued at $31,000. Sierra Ocean LLC bought a new position in Alibaba Group in the fourth quarter valued at approximately $32,000. Kieckhefer Group LLC acquired a new position in shares of Alibaba Group during the 4th quarter worth about $55,000. Vision Financial Markets LLC acquired a new position in Alibaba Group in the 4th quarter valued at $55,000. Finally, Golden State Wealth Management LLC bought a new stake in Alibaba Group during the fourth quarter worth about $60,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded down $4.32 on Wednesday, reaching $107.96. 8,878,578 shares of the company's stock were exchanged, compared to its average volume of 30,119,570. The company has a fifty day moving average of $127.13 and a 200-day moving average of $104.74. The company has a market capitalization of $256.43 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $148.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Arete Research raised Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Bank of America boosted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Mizuho raised their price target on Alibaba Group from $140.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Company 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.