Spire Wealth Management Increases Position in Alibaba Group Holding Limited (NYSE:BABA)

Spire Wealth Management increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,814 shares of the specialty retailer’s stock after acquiring an additional 148 shares during the quarter. Spire Wealth Management’s holdings in Alibaba Group were worth $323,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Concord Wealth Partners boosted its holdings in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group in the fourth quarter valued at $31,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the third quarter valued at $36,000. Assetmark Inc. grew its holdings in shares of Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in shares of Alibaba Group during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $100.36 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $87.44 and a 200 day moving average price of $89.33. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $117.82. The company has a market cap of $238.73 billion, a P/E ratio of 20.36, a PEG ratio of 0.42 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. Research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BABA. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Barclays decreased their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. StockNews.com cut shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Citigroup increased their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Robert W. Baird lifted their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $115.13.

About Alibaba Group

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.