Kingsview Wealth Management LLC Buys 2,438 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Kingsview Wealth Management LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 60.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,496 shares of the specialty retailer’s stock after buying an additional 2,438 shares during the period. Kingsview Wealth Management LLC’s holdings in Alibaba Group were worth $689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA increased its stake in shares of Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after purchasing an additional 1,074,175 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the period. AMF Tjanstepension AB increased its position in Alibaba Group by 6.9% during the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after buying an additional 178,999 shares during the last quarter. Eminence Capital LP raised its stake in Alibaba Group by 9.0% in the second quarter. Eminence Capital LP now owns 1,830,387 shares of the specialty retailer’s stock valued at $131,788,000 after buying an additional 150,488 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $86.60 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a market cap of $207.21 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 0.42 and a beta of 0.35. The stock has a fifty day moving average price of $98.51 and a 200-day moving average price of $86.01.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research analyst reports. Truist Financial dropped their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Barclays cut their target price on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Bank of America upped their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $114.07.

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.