Jessup Wealth Management Inc Acquires 2,263 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Jessup Wealth Management Inc raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 31.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,541 shares of the specialty retailer’s stock after acquiring an additional 2,263 shares during the quarter. Jessup Wealth Management Inc’s holdings in Alibaba Group were worth $1,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarius Group LLC bought a new position in Alibaba Group in the 3rd quarter worth about $248,000. UMB Bank n.a. increased its position in shares of Alibaba Group by 361.0% during the third quarter. UMB Bank n.a. now owns 4,172 shares of the specialty retailer’s stock valued at $443,000 after buying an additional 3,267 shares during the period. Systrade AG bought a new position in Alibaba Group in the third quarter worth $1,080,000. Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Alibaba Group by 26.1% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 14,121 shares of the specialty retailer’s stock valued at $1,499,000 after purchasing an additional 2,921 shares during the last quarter. Finally, Marcum Wealth LLC bought a new stake in shares of Alibaba Group during the third quarter valued at approximately $277,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BABA shares. Robert W. Baird boosted their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Truist Financial lowered their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Bank of America boosted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

Alibaba Group Trading Down 0.1 %

Alibaba Group stock traded down $0.06 during midday trading on Friday, reaching $109.22. 6,704,187 shares of the stock traded hands, compared to its average volume of 17,800,383. 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 firm has a market cap of $262.11 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a 50-day simple moving average of $89.22 and a two-hundred day simple moving average of $80.84. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data 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. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the previous year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts expect 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.