SkyView Investment Advisors LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the specialty retailer's stock, valued at approximately $637,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. TRUE Private Wealth Advisors boosted its stake in Alibaba Group by 3.7% in the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock valued at $331,000 after acquiring an additional 112 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer's stock worth $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC lifted its stake in Alibaba Group by 14.6% in the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer's stock valued at $72,000 after purchasing an additional 128 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Alibaba Group by 4.3% during the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer's stock valued at $361,000 after purchasing an additional 139 shares during the period. Finally, First Trust Direct Indexing L.P. increased its position in Alibaba Group by 3.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer's stock worth $515,000 after buying an additional 143 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BABA has been the subject of several research reports. Morgan Stanley reiterated an "equal weight" rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a "market perform" rating in a research note on Friday, August 16th. Truist Financial lowered their price target on shares of Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a report on Monday, August 19th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $114.07.
Check Out Our Latest Research Report on Alibaba Group
Alibaba Group Price Performance
Alibaba Group stock traded down $1.41 during midday trading on Friday, hitting $87.82. 11,593,076 shares of the company's stock were exchanged, compared to its average volume of 17,470,092. The company has a market cap of $209.87 billion, a P/E ratio of 17.76, a PEG ratio of 0.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50-day moving average price of $95.36 and a two-hundred day moving average price of $86.25. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82.
Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.
About Alibaba Group
(
Free Report)
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.
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