Angeles Investment Advisors LLC Invests $271,000 in Alibaba Group Holding Limited (NYSE:BABA)

Angeles Investment Advisors LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, HoldingsChannel reports. The firm acquired 2,552 shares of the specialty retailer’s stock, valued at approximately $271,000.

A number of other hedge funds have also recently made changes to their positions in BABA. Concord Wealth Partners increased 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 period. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group during the 2nd quarter valued at $27,000. Highline Wealth Partners LLC purchased a new position in Alibaba Group during the 3rd quarter valued at $36,000. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter worth about $25,000. Finally, GPS Wealth Strategies Group LLC grew its position in shares of Alibaba Group by 139.3% in the 2nd 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 period. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BABA. Susquehanna reduced their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Stock Performance

BABA traded up $0.22 during midday trading on Wednesday, hitting $92.00. 1,700,152 shares of the company traded hands, compared to its average volume of 17,587,354. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $220.34 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 0.42 and a beta of 0.35. The company’s 50-day moving average is $97.68 and its 200 day moving average is $85.39. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82.

Alibaba Group (NYSE:BABA) last posted 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 for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the business earned $2.47 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

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.