Chicago Partners Investment Group LLC Purchases Shares of 2,428 Alibaba Group Holding Limited (NYSE:BABA)

Chicago Partners Investment Group LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,428 shares of the specialty retailer’s stock, valued at approximately $238,000.

Other institutional investors also recently made changes to their positions in the company. First Command Advisory Services Inc. purchased a new stake in Alibaba Group during the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC boosted its holdings in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the 2nd quarter worth approximately $27,000. Concord Wealth Partners increased its stake in Alibaba Group by 155.0% in 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 period. Finally, Highline Wealth Partners LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.9 %

Shares of Alibaba Group stock opened at $99.24 on Wednesday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day moving average of $96.31 and a 200 day moving average of $84.62. The firm has a market cap of $237.68 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last announced 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. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Barclays upped their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird boosted their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.13.

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.