7,667 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Joule Financial LLC

Joule Financial LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,667 shares of the specialty retailer's stock, valued at approximately $814,000.

A number of other hedge funds also recently bought and sold shares of BABA. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC boosted its stake in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer's stock worth $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the second quarter valued at $27,000. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group in the first quarter valued at $31,000. Finally, Asset Dedication LLC lifted its holdings in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer's stock worth $38,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. Benchmark reissued a "buy" rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Jefferies Financial Group reaffirmed a "buy" rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Barclays boosted their price target on Alibaba Group from $107.00 to $137.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Bank of America increased their price objective on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $112.63.

Alibaba Group Price Performance

Shares of BABA stock traded up $2.34 during trading hours on Friday, hitting $102.41. 20,776,832 shares of the company's stock were exchanged, compared to its average volume of 17,930,746. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The firm has a market cap of $259.87 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $92.30 and a two-hundred day moving average of $82.17.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS 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.