Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 48.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,641 shares of the specialty retailer’s stock after purchasing an additional 1,516 shares during the period. Western Wealth Management LLC’s holdings in Alibaba Group were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. GPS Wealth Strategies Group LLC grew its holdings in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at about $26,000. Register Financial Advisors LLC purchased a new position in shares of Alibaba Group in the first quarter worth about $31,000. ICA Group Wealth Management LLC acquired a new stake in shares of Alibaba Group during the fourth quarter worth about $42,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Alibaba Group in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein lifted their price target on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday. Citigroup decreased their price target on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Barclays lowered their target price on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday. Finally, Loop Capital lifted their price target on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $107.32.

Alibaba Group Stock Up 1.5 %

Shares of NYSE:BABA traded up $1.23 during trading hours on Monday, reaching $84.41. The stock had a trading volume of 5,812,845 shares, compared to its average volume of 16,642,963. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $96.68. The firm’s 50 day moving average is $76.63 and its 200-day moving average is $75.99. The stock has a market capitalization of $214.19 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the prior year, the company posted $2.47 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal 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.