Advisors Asset Management Inc. Raises Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Advisors Asset Management Inc. lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 16.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,338 shares of the specialty retailer’s stock after buying an additional 614 shares during the quarter. Advisors Asset Management Inc.’s holdings in Alibaba Group were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BABA. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the second quarter worth about $25,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in Alibaba Group during the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE:BABA opened at $86.60 on Thursday. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $207.21 billion, a PE ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. The stock has a 50 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 results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, beating the consensus estimate of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Sanford C. Bernstein increased their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Truist Financial lowered their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on 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.