Perfromance Wealth Partners LLC Makes New $220,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Perfromance Wealth Partners LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, Holdings Channel reports. The fund bought 2,075 shares of the specialty retailer’s stock, valued at approximately $220,000.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group during the second quarter worth about $27,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC increased its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group during the first quarter valued at about $31,000. Finally, Asset Dedication LLC increased its position in shares of Alibaba Group by 315.0% during the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 0.8 %

Shares of Alibaba Group stock opened at $110.14 on Friday. The company has a fifty day simple moving average of $89.88 and a 200-day simple moving average of $81.18. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. 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 $279.48 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results 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 business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the business posted $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BABA. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Bank of America lifted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Sanford C. Bernstein lifted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $110.75.

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.