Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 6.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,464 shares of the specialty retailer’s stock after acquiring an additional 767 shares during the period. Sunbelt Securities Inc.’s holdings in Alibaba Group were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC grew its stake in Alibaba Group by 154.1% in the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after acquiring an additional 33,490 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares in the last quarter. SRN Advisors LLC lifted its holdings in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. ORG Partners LLC lifted its holdings in Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after purchasing an additional 11,064 shares in the last quarter. Finally, Leo Wealth LLC purchased a new position in Alibaba Group in the 4th quarter valued at about $1,734,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.1 %

NYSE BABA opened at $106.14 on Tuesday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $112.22. The company’s 50 day moving average price is $83.57 and its 200 day moving average price is $78.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $269.33 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter last year, the company earned $2.47 earnings per share. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BABA shares. Truist Financial reduced their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Susquehanna reduced their target price 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. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Finally, Bank of America increased their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $107.61.

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.