EP Wealth Advisors LLC Purchases 1,247 Shares of Alibaba Group Holding Limited (NYSE:BABA)

EP Wealth Advisors LLC grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,633 shares of the specialty retailer’s stock after buying an additional 1,247 shares during the quarter. EP Wealth Advisors LLC’s holdings in Alibaba Group were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandes Investment Partners LP boosted its position in Alibaba Group by 4.7% in the second quarter. Brandes Investment Partners LP now owns 711,054 shares of the specialty retailer’s stock worth $51,341,000 after purchasing an additional 32,233 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Alibaba Group by 6.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 13,464 shares of the specialty retailer’s stock worth $969,000 after purchasing an additional 767 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Alibaba Group by 12.8% in the 2nd quarter. NewEdge Advisors LLC now owns 52,363 shares of the specialty retailer’s stock worth $3,770,000 after buying an additional 5,924 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in Alibaba Group during the second quarter valued at about $1,357,000. Finally, Annandale Capital LLC increased its holdings in Alibaba Group by 11.8% during the second quarter. Annandale Capital LLC now owns 61,653 shares of the specialty retailer’s stock worth $4,439,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Sanford C. Bernstein increased their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Truist Financial lowered their target price 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. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $112.83 on Friday. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $116.57. 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 stock has a market cap of $286.31 billion, a P/E ratio of 26.30, a P/E/G ratio of 0.46 and a beta of 0.33. The company has a 50 day moving average of $85.84 and a 200 day moving average of $79.51.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during 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 business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 EPS. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS 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.