Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 155.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 255 shares of the specialty retailer’s stock after purchasing an additional 155 shares during the quarter. Concord Wealth Partners’ holdings in Alibaba Group were worth $27,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BABA. Wealth Enhancement Advisory Services LLC lifted its position in shares of Alibaba Group by 1.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock worth $1,548,000 after purchasing an additional 241 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Alibaba Group by 93.1% in the first quarter. Principal Financial Group Inc. now owns 41,129 shares of the specialty retailer’s stock valued at $2,976,000 after acquiring an additional 19,832 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $490,000. North Star Investment Management Corp. raised its holdings in Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after acquiring an additional 154 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC raised its holdings in Alibaba Group by 40.9% in the first quarter. SeaBridge Investment Advisors LLC now owns 14,975 shares of the specialty retailer’s stock valued at $1,084,000 after acquiring an additional 4,345 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA opened at $99.82 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market cap of $253.29 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company’s 50 day simple moving average is $94.77 and its 200-day simple moving average is $83.60. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. As a group, equities analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on BABA shares. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Finally, Bank of America raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Alibaba Group Company 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.