Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,704 shares of the specialty retailer’s stock after buying an additional 1,997 shares during the period. Intellectus Partners LLC’s holdings in Alibaba Group were worth $2,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its holdings in Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares during the last quarter. ICA Group Wealth Management LLC increased its position in Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after purchasing an additional 139 shares during the period. First Trust Direct Indexing L.P. lifted its position in Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after acquiring an additional 143 shares in the last quarter. Finally, Concord Wealth Partners boosted 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 valued at $27,000 after purchasing an additional 155 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the subject of a number of research reports. 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. Bank of America lifted their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Barclays boosted their target price on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Performance

Shares of BABA opened at $90.54 on Friday. The firm has a 50-day moving average of $97.87 and a 200-day moving average of $85.44. The company has a market cap of $216.79 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. 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 one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last released its quarterly 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. 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 firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 8.51 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.