Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 75.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,620 shares of the specialty retailer’s stock after acquiring an additional 5,843 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Alibaba Group were worth $981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fiduciary Alliance LLC increased its position in shares of Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after acquiring an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after acquiring an additional 139,134 shares in the last quarter. SRN Advisors LLC increased its holdings in shares of 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 acquiring an additional 9,663 shares during the last quarter. ORG Partners LLC raised its position in shares of Alibaba Group by 52,685.7% during the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares in the last quarter. Finally, Leo Wealth LLC purchased a new stake in Alibaba Group during the fourth quarter worth approximately $1,734,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Barclays dropped their price objective on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Up 1.2 %

BABA opened at $84.81 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $90.46. The stock’s 50 day moving average price is $79.46 and its 200 day moving average price is $77.08. The stock has a market cap of $215.21 billion, a P/E ratio of 19.77, a P/E/G ratio of 0.41 and a beta of 0.33.

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, topping analysts’ consensus estimates of $1.87 by $14.57. The company 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% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. As a group, research analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current 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.