Alibaba Group Holding Limited $BABA Holdings Lifted by Modern Wealth Management LLC

Modern Wealth Management LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,757 shares of the specialty retailer’s stock after purchasing an additional 154 shares during the period. Modern Wealth Management LLC’s holdings in Alibaba Group were worth $365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. Strs Ohio bought a new position in shares of Alibaba Group in the 1st quarter valued at approximately $63,433,000. Turn8 Private Wealth Inc. bought a new position in Alibaba Group in the 1st quarter valued at $727,000. Advisors Capital Management LLC raised its position in shares of Alibaba Group by 20.7% during the first quarter. Advisors Capital Management LLC now owns 7,793 shares of the specialty retailer’s stock worth $1,030,000 after acquiring an additional 1,338 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Alibaba Group by 23.8% during the first quarter. Focus Partners Wealth now owns 17,993 shares of the specialty retailer’s stock worth $2,379,000 after purchasing an additional 3,456 shares during the period. Finally, Integrity Alliance LLC. acquired a new stake in shares of Alibaba Group during the first quarter worth $724,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA stock opened at $155.02 on Monday. The stock has a 50-day moving average price of $123.33 and a 200-day moving average price of $122.41. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $156.85. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $369.57 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.11.

Analyst Ratings Changes

A number of research firms have issued reports on BABA. Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 target price on shares of Alibaba Group in a research note on Saturday, August 30th. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Wednesday, September 3rd. Citigroup upped their price objective on Alibaba Group from $148.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Barclays increased their price target on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $167.40.

About Alibaba Group

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.