Prime Capital Investment Advisors LLC Raises Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Prime Capital Investment Advisors LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,973 shares of the specialty retailer’s stock after buying an additional 721 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Alibaba Group were worth $528,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Alibaba Group by 6.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after buying an additional 121 shares in the last quarter. ICA Group Wealth Management LLC increased its position in shares of Alibaba Group by 14.6% during the second 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 raised its stake in Alibaba Group by 4.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake 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 purchasing an additional 143 shares during the last quarter. Finally, Concord Wealth Partners grew its holdings in shares of Alibaba Group by 155.0% during 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 in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on BABA. Mizuho upped their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Susquehanna lowered their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Finally, StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Down 2.2 %

Shares of NYSE BABA opened at $88.57 on Friday. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The stock has a market cap of $212.07 billion, a P/E ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35. 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 business’s fifty day simple moving average is $98.04 and its 200-day simple moving average is $85.47.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data 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 return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the business posted $2.47 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

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.