Synovus Financial Corp lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 34.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,476 shares of the specialty retailer’s stock after selling 8,134 shares during the quarter. Synovus Financial Corp’s holdings in Alibaba Group were worth $2,674,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BABA. Capital Research Global Investors boosted its position in shares of Alibaba Group by 2.2% in the 2nd quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock valued at $4,736,830,000 after purchasing an additional 738,281 shares during the period. FMR LLC boosted its position in shares of Alibaba Group by 42.5% in the 2nd quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after purchasing an additional 7,544,165 shares during the period. Jennison Associates LLC boosted its position in shares of Alibaba Group by 3.3% in the 2nd quarter. Jennison Associates LLC now owns 20,448,110 shares of the specialty retailer’s stock valued at $2,881,139,000 after purchasing an additional 661,109 shares during the period. Capital World Investors boosted its position in shares of Alibaba Group by 5.7% in the 2nd quarter. Capital World Investors now owns 20,243,958 shares of the specialty retailer’s stock valued at $2,852,374,000 after purchasing an additional 1,091,620 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Alibaba Group by 5.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,234,002 shares of the specialty retailer’s stock valued at $1,723,771,000 after purchasing an additional 626,446 shares during the period. 38.13% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the company. Bank of America increased their price target on Alibaba Group from $180.00 to $193.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Macquarie increased their price target on Alibaba Group from $171.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 18th. SunTrust Banks assumed coverage on Alibaba Group in a research report on Tuesday, August 15th. They issued a “buy” rating and a $175.00 price target for the company. KeyCorp set a $182.00 price target on Alibaba Group and gave the company an “overweight” rating in a research report on Friday, August 18th. Finally, MKM Partners increased their price target on Alibaba Group from $177.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $184.15.

Shares of Alibaba Group Holding Limited (NYSE BABA) opened at $168.96 on Wednesday. The stock has a market capitalization of $434,256.47, a P/E ratio of 49.29, a price-to-earnings-growth ratio of 1.28 and a beta of 2.52. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. Alibaba Group Holding Limited has a fifty-two week low of $86.01 and a fifty-two week high of $191.75.

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Alibaba Group Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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