Strategic Financial Concepts LLC Grows Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Strategic Financial Concepts LLC lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4,156.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,125 shares of the specialty retailer’s stock after buying an additional 117,303 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Alibaba Group were worth $8,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC boosted its position 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 acquiring an additional 209 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in Alibaba Group in the first quarter valued at approximately $31,000. ICA Group Wealth Management LLC acquired a new position in Alibaba Group during the fourth quarter worth approximately $42,000. Finally, EdgeRock Capital LLC purchased a new position in Alibaba Group during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Sanford C. Bernstein boosted their target price on 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 restated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday, July 26th. Finally, Mizuho decreased their target price on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

Shares of BABA stock opened at $81.18 on Friday. 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 company’s 50-day simple moving average is $78.89 and its 200-day simple moving average is $76.92. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $91.76. The stock has a market capitalization of $205.99 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 0.42 and a beta of 0.32.

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

Alibaba Group Company 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.