As Alibaba Group Hldg Spon Adr (BABA) Share Value Rose, Holder Atalanta Sosnoff Capital LLC Has Decreased Its Position

August 10, 2018 - By Jason Dias

Atalanta Sosnoff Capital Llc decreased its stake in Alibaba Group Hldg Spon Adr (BABA) by 35.13% based on its latest 2018Q1 regulatory filing with the SEC. Atalanta Sosnoff Capital Llc sold 163,554 shares as the company’s stock rose 2.58% while stock markets declined. The institutional investor held 302,037 shares of the business services company at the end of 2018Q1, valued at $55.44M, down from 465,591 at the end of the previous reported quarter. Atalanta Sosnoff Capital Llc who had been investing in Alibaba Group Hldg Spon Adr for a number of months, seems to be less bullish one the $456.47 billion market cap company. The stock increased 0.16% or $0.29 during the last trading session, reaching $177.48. About 4.02M shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 61.13% since August 10, 2017 and is uptrending. It has outperformed by 48.56% the S&P500.

Atalanta Sosnoff Capital Llc, which manages about $2.46 billion and $3.00B US Long portfolio, upped its stake in Becton Dickinson & Co (NYSE:BDX) by 60,814 shares to 266,309 shares, valued at $57.71M in 2018Q1, according to the filing. It also increased its holding in Vertex Pharmaceuticals Inc (NASDAQ:VRTX) by 93,641 shares in the quarter, for a total of 564,783 shares, and has risen its stake in Bank Of America Corporation (NYSE:BAC).

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on August, 23 before the open. They expect $0.84 EPS, down 10.64 % or $0.10 from last year’s $0.94 per share. BABA’s profit will be $2.16B for 52.82 P/E if the $0.84 EPS becomes a reality. After $0.54 actual EPS reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts 55.56 % EPS growth.

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: 247Wallst.com which released: “The 6 Most Shorted NYSE Stocks” on August 10, 2018, also Seekingalpha.com with their article: “Starbucks And Alibaba’s Game Changing Alliance” published on August 06, 2018, Finance.Yahoo.com published: “Alibaba Is Nearing the Buy Zone After the Recent 10% Pullback” on August 07, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Seekingalpha.com and their article: “Alibaba: Expect Headwinds With Ele.me” published on August 02, 2018 as well as Seekingalpha.com‘s news article titled: “China Has Fallen: Alibaba Is A Conviction Buy (Julian Lin)” with publication date: August 08, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 12 analysts covering Alibaba Group (NYSE:BABA), 12 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Alibaba Group had 16 analyst reports since March 6, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Friday, April 27 by RBC Capital Markets. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Buy” rating by Raymond James on Thursday, May 24. Bank of America maintained Alibaba Group Holding Limited (NYSE:BABA) on Monday, May 7 with “Buy” rating. As per Wednesday, March 14, the company rating was maintained by Robert W. Baird. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Monday, May 7. The firm has “Buy” rating by Robert W. Baird given on Tuesday, May 29. As per Friday, May 4, the company rating was maintained by Robert W. Baird. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, May 7 report. The firm has “Buy” rating by Susquehanna given on Thursday, June 7. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Buy” rating by Oppenheimer on Tuesday, March 6.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Chart

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