Harbor Investment Advisory LLC Increases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Harbor Investment Advisory LLC boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 67,614 shares of the specialty retailer’s stock after buying an additional 487 shares during the period. Alibaba Group accounts for about 0.7% of Harbor Investment Advisory LLC’s holdings, making the stock its 28th largest holding. Harbor Investment Advisory LLC’s holdings in Alibaba Group were worth $7,175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BABA. Peapack Gladstone Financial Corp acquired a new position in shares of Alibaba Group during the 4th quarter worth $351,000. Belpointe Asset Management LLC acquired a new position in Alibaba Group during the fourth quarter worth about $294,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Alibaba Group by 4.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 52,359 shares of the specialty retailer’s stock valued at $4,058,000 after purchasing an additional 2,327 shares in the last quarter. Exencial Wealth Advisors LLC acquired a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $396,000. Finally, Stephens Inc. AR increased its stake in shares of Alibaba Group by 16.1% during the 4th quarter. Stephens Inc. AR now owns 11,452 shares of the specialty retailer’s stock worth $888,000 after purchasing an additional 1,586 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Truist Financial decreased their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Trading Up 1.5 %

BABA traded up $1.69 on Friday, reaching $114.53. 25,699,080 shares of the company’s stock were exchanged, compared to its average volume of 17,586,789. The company has a market cap of $290.62 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 0.46 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $116.57. The company’s 50 day moving average is $86.60 and its 200-day moving average is $79.79.

Alibaba Group (NYSE:BABA) last announced 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 firm 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.47 EPS. Equities 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.