Apollon Wealth Management LLC Makes New $923,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Apollon Wealth Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,696 shares of the specialty retailer's stock, valued at approximately $923,000.

Other institutional investors also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV raised its holdings in shares of Alibaba Group by 63.9% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer's stock valued at $3,047,000 after purchasing an additional 11,192 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock valued at $228,000 after purchasing an additional 121 shares in the last quarter. Weil Company Inc. bought a new position in shares of Alibaba Group during the 3rd quarter valued at $327,000. Ashton Thomas Securities LLC raised its holdings in shares of Alibaba Group by 10.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 3,071 shares of the specialty retailer's stock valued at $326,000 after purchasing an additional 294 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Alibaba Group by 16.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,954 shares of the specialty retailer's stock valued at $8,060,000 after purchasing an additional 10,515 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Analysts Set New Price Targets

BABA has been the topic of a number of recent research reports. Morgan Stanley restated an "equal weight" rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Barclays lifted their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. StockNews.com downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Tuesday. Bank of America lifted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average target price of $114.53.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded down $1.99 on Friday, hitting $88.59. 31,018,266 shares of the company were exchanged, compared to its average volume of 17,693,400. The firm has a market capitalization of $212.12 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. The company's 50 day moving average price is $98.18 and its two-hundred day moving average price is $85.56. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analysts' expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. Research analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

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.