Toronto Dominion Bank Cuts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Toronto Dominion Bank lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 99.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628 shares of the specialty retailer's stock after selling 88,619 shares during the quarter. Toronto Dominion Bank's holdings in Alibaba Group were worth $67,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. TRUE Private Wealth Advisors lifted its position in Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock valued at $331,000 after acquiring an additional 112 shares in the last quarter. Venturi Wealth Management LLC raised its position in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock valued at $228,000 after buying an additional 121 shares during the last quarter. ICA Group Wealth Management LLC raised its holdings in shares of Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer's stock worth $361,000 after purchasing an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer's stock worth $515,000 after purchasing an additional 143 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of BABA stock traded up $1.09 during trading hours on Tuesday, reaching $87.16. The company had a trading volume of 13,272,053 shares, compared to its average volume of 17,435,371. The firm has a market cap of $208.28 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. The business has a fifty day moving average price of $93.74 and a 200-day moving average price of $86.50. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. During the same period in the previous year, the business earned $1.82 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts predict that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BABA shares. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Barclays decreased their target price on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, November 19th. StockNews.com downgraded shares of Alibaba Group from a "strong-buy" rating to a "buy" rating in a report on Saturday. Susquehanna decreased their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a report on Monday, August 19th. Finally, Loop Capital reiterated a "buy" rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $114.07.

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.