Summa Corp. Cuts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Summa Corp. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 19.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,673 shares of the specialty retailer's stock after selling 13,340 shares during the period. Alibaba Group makes up 2.3% of Summa Corp.'s holdings, making the stock its 6th biggest holding. Summa Corp.'s holdings in Alibaba Group were worth $4,721,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Concord Wealth Partners boosted its holdings in Alibaba Group by 155.0% during 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 period. Strategic Investment Solutions Inc. IL purchased a new stake in Alibaba Group during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in Alibaba Group in the third quarter worth approximately $36,000. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $31,000. Finally, Assetmark Inc. raised its holdings 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 purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE:BABA traded up $6.20 during trading hours on Thursday, reaching $102.92. 36,901,148 shares of the company traded hands, compared to its average volume of 18,698,746. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $117.82. The stock has a market cap of $245.13 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.37 and a beta of 0.30. The firm's 50-day moving average is $85.93 and its 200-day moving average is $88.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 EPS. Equities research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent analyst reports. Mizuho increased their target price on Alibaba Group from $92.00 to $113.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Barclays cut their price target on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 19th. Benchmark reiterated a "buy" rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Robert W. Baird raised their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Bank of America increased their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.13.

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.