Essex Financial Services Inc. Has $1.94 Million Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Essex Financial Services Inc. lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 9.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 22,826 shares of the specialty retailer’s stock after selling 2,328 shares during the period. Essex Financial Services Inc.’s holdings in Alibaba Group were worth $1,935,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AMF Tjanstepension AB lifted 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 purchasing an additional 178,999 shares during the period. Koshinski Asset Management Inc. acquired a new position in Alibaba Group in the third quarter valued at approximately $213,000. Procyon Advisors LLC lifted its stake in Alibaba Group by 2.1% in the third quarter. Procyon Advisors LLC now owns 20,527 shares of the specialty retailer’s stock valued at $2,178,000 after buying an additional 413 shares during the period. NBC Securities Inc. boosted its holdings in shares of Alibaba Group by 6.2% during the 3rd quarter. NBC Securities Inc. now owns 8,513 shares of the specialty retailer’s stock worth $903,000 after buying an additional 494 shares in the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of Alibaba Group by 5.0% during the 3rd quarter. Magnus Financial Group LLC now owns 9,538 shares of the specialty retailer’s stock worth $1,012,000 after buying an additional 451 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Up 1.3 %

NYSE BABA opened at $112.78 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $268.26 billion, a P/E ratio of 22.88, a PEG ratio of 0.42 and a beta of 0.31. The business has a fifty day simple moving average of $88.55 and a 200 day simple moving average of $90.05. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Mizuho upped their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.