Bleakley Financial Group LLC Boosts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Bleakley Financial Group LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,056 shares of the specialty retailer’s stock after acquiring an additional 673 shares during the quarter. Bleakley Financial Group LLC’s holdings in Alibaba Group were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the stock. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the 2nd quarter worth $25,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group during the 2nd quarter worth $27,000. Register Financial Advisors LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Finally, Asset Dedication LLC boosted its stake in shares of Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 400 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BABA has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Robert W. Baird lifted their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Loop Capital restated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted 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. Finally, Truist Financial lowered their target price 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. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.63.

Alibaba Group Stock Up 2.4 %

Shares of NYSE:BABA opened at $102.43 on Monday. The company has a market capitalization of $259.92 billion, a PE ratio of 23.88, a P/E/G ratio of 0.55 and a beta of 0.35. 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 firm has a 50 day simple moving average of $92.30 and a 200-day simple moving average of $82.31.

Alibaba Group (NYSE:BABA) last announced 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. The company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal 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.