Truist Financial Corp Has $9.63 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Truist Financial Corp reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 59.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,582 shares of the specialty retailer's stock after selling 166,647 shares during the quarter. Truist Financial Corp's holdings in Alibaba Group were worth $9,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanders Capital LLC raised its holdings in Alibaba Group by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer's stock worth $1,959,021,000 after purchasing an additional 60,667 shares during the last quarter. Hhlr Advisors LTD. increased its stake in shares of Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer's stock valued at $936,785,000 after acquiring an additional 3,448,152 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer's stock valued at $409,385,000 after acquiring an additional 3,740,150 shares during the last quarter. FMR LLC increased its stake in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer's stock valued at $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. Finally, AMF Tjanstepension AB increased its stake in shares of Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer's stock valued at $296,062,000 after acquiring an additional 178,999 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 5.7 %

Shares of BABA traded up $7.70 during mid-day trading on Friday, hitting $143.67. 73,657,797 shares of the company's stock were exchanged, compared to its average volume of 39,341,764. The company has a market cap of $341.36 billion, a PE ratio of 20.76, a P/E/G ratio of 0.57 and a beta of 0.31. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $145.30. The company has a 50-day simple moving average of $95.43 and a 200 day simple moving average of $92.88. 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 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 net margin of 12.29% and a return on equity of 12.90%. The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. On average, research analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BABA shares. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. Benchmark upped their price target on Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research note on Friday. Bank of America upped their price target on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday. Citigroup upped their price target on Alibaba Group from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average price target of $131.93.

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.