Old Port Advisors Invests $253,000 in Alibaba Group Holding Limited (NYSE:BABA)

Old Port Advisors purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,381 shares of the specialty retailer’s stock, valued at approximately $253,000.

Several other institutional investors have also modified their holdings of BABA. ICA Group Wealth Management LLC raised its position in shares of 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 during the last quarter. Cornerstone Wealth Management LLC raised its position in shares of 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 last quarter. North Star Investment Management Corp. raised its position in shares of Alibaba Group by 11.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 154 shares during the last quarter. Concord Wealth Partners raised its position in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the last quarter. Finally, EPIQ Capital Group LLC raised its position in shares of Alibaba Group by 0.3% during the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.1 %

Shares of Alibaba Group stock opened at $99.82 on Wednesday. The company has a fifty day moving average price of $94.77 and a 200 day moving average price of $83.60. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The stock has a market cap of $253.29 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the company earned $2.47 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial cut their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Robert W. Baird lifted their price objective on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Susquehanna cut their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.