Stratos Wealth Advisors LLC Acquires 266 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Stratos Wealth Advisors LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,360 shares of the specialty retailer’s stock after purchasing an additional 266 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Alibaba Group were worth $357,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its stake in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares in the last quarter. Marshall Wace LLP boosted its holdings in Alibaba Group by 384.2% during the second quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after purchasing an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC grew its position in Alibaba Group by 523.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock worth $96,163,000 after purchasing an additional 1,121,500 shares in the last quarter. Primecap Management Co. CA increased its stake in Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co lifted its position in shares of Alibaba Group by 256.8% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 781,832 shares of the specialty retailer’s stock worth $56,292,000 after buying an additional 562,732 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $100.42 on Wednesday. The stock has a fifty day moving average of $93.09 and a 200-day moving average of $82.71. The stock has a market cap of $254.82 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.55 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 fifty-two week low of $66.63 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $248.32 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Alibaba Group Holding Limited will post 7.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America upped their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a report 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 on the stock in a research report on Friday, August 16th. Loop Capital reissued a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $112.63.

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.