Alibaba Group Holding Limited (NYSE:BABA) is Martin Currie Ltd.’s 3rd Largest Position

Martin Currie Ltd. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 10.3% in the first quarter, Holdings Channel reports. The fund owned 1,426,064 shares of the specialty retailer’s stock after selling 162,943 shares during the quarter. Alibaba Group makes up about 7.6% of Martin Currie Ltd.’s holdings, making the stock its 3rd biggest holding. Martin Currie Ltd.’s holdings in Alibaba Group were worth $188,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group in the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. boosted its position in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group in the 1st quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at about $31,000. Finally, Stone House Investment Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the subject of a number of analyst reports. Arete cut shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Bank of America reduced their price target on shares of Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $153.29.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $122.29 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $116.20 and its two-hundred day moving average price is $120.13. Alibaba Group Holding Limited has a 52-week low of $77.74 and a 52-week high of $148.43. The stock has a market capitalization of $291.63 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.87 and a beta of 0.17.

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.