Apollon Wealth Management LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Apollon Wealth Management LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABAFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,696 shares of the specialty retailer’s stock, valued at approximately $923,000.

A number of other institutional investors also recently modified their holdings of the business. Nations Financial Group Inc. IA ADV boosted its position in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock valued at $3,047,000 after acquiring an additional 11,192 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 121 shares during the period. Weil Company Inc. bought a new stake in shares of Alibaba Group in the third quarter valued at about $327,000. Ashton Thomas Securities LLC boosted its position in shares of Alibaba Group by 10.6% in the third quarter. Ashton Thomas Securities LLC now owns 3,071 shares of the specialty retailer’s stock valued at $326,000 after acquiring an additional 294 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Alibaba Group by 16.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 75,954 shares of the specialty retailer’s stock valued at $8,060,000 after acquiring an additional 10,515 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays boosted their price target on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Susquehanna dropped their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Mizuho boosted their price target on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday. 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 research note on Friday, August 16th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.53.

Get Our Latest Report on BABA

Alibaba Group Stock Performance

Alibaba Group stock opened at $88.57 on Friday. The business has a 50 day moving average of $98.04 and a 200-day moving average of $85.47. 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 market capitalization of $212.07 billion, a P/E ratio of 23.01, a P/E/G ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABAGet Free Report) last released 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 company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

About Alibaba Group

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABAFree Report).

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.