Kingswood Wealth Advisors LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 63.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 4,749 shares of the specialty retailer’s stock after selling 8,330 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Alibaba Group were worth $539,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the business. Trueblood Wealth Management LLC acquired a new stake in shares of Alibaba Group during the second quarter worth $273,000. SteelPeak Wealth LLC acquired a new stake in shares of Alibaba Group during the second quarter worth $838,000. Belpointe Asset Management LLC boosted its holdings in shares of Alibaba Group by 22.4% during the second quarter. Belpointe Asset Management LLC now owns 18,305 shares of the specialty retailer’s stock worth $2,076,000 after purchasing an additional 3,356 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in shares of Alibaba Group by 2.2% during the second quarter. Beacon Financial Advisory LLC now owns 5,442 shares of the specialty retailer’s stock worth $617,000 after purchasing an additional 119 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. boosted its holdings in shares of Alibaba Group by 2.9% during the second quarter. O Keefe Stevens Advisory Inc. now owns 82,818 shares of the specialty retailer’s stock worth $9,392,000 after purchasing an additional 2,354 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.
Alibaba Group Trading Down 4.2%
NYSE:BABA opened at $173.60 on Friday. The business’s 50-day moving average is $145.53 and its two-hundred day moving average is $127.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The firm has a market capitalization of $413.88 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.14 and a beta of 0.18.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on Alibaba Group
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.
Featured Stories
- Five stocks we like better than Alibaba Group
- What is Short Interest? How to Use It
- Why Amazon’s Prime Day May Be the Catalyst for a Year-End Rally
- What is a Low P/E Ratio and What Does it Tell Investors?
- Let the Good Times Roll: 2 Stocks Showing No Signs of Slowing
- The Role Economic Reports Play in a Successful Investment Strategy
- Café Culture Revival? 3 Stocks to Watch After Chick-fil-A’s Move
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA – Free Report).
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.