AlphaCore Capital LLC Invests $162,000 in Alibaba Group Holding Limited $BABA

AlphaCore Capital LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,403 shares of the specialty retailer’s stock, valued at approximately $162,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Legal & General Group Plc boosted its position in Alibaba Group by 16.7% during the 2nd quarter. Legal & General Group Plc now owns 584,901 shares of the specialty retailer’s stock valued at $66,334,000 after purchasing an additional 83,733 shares during the period. MAI Capital Management grew its position in shares of Alibaba Group by 16.5% during the second quarter. MAI Capital Management now owns 7,980 shares of the specialty retailer’s stock worth $905,000 after acquiring an additional 1,129 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in shares of Alibaba Group in the 2nd quarter worth about $526,000. Handelsbanken Fonder AB lifted its position in Alibaba Group by 1.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 759,556 shares of the specialty retailer’s stock valued at $86,141,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in Alibaba Group by 35.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 37,014 shares of the specialty retailer’s stock valued at $4,198,000 after purchasing an additional 9,716 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 2.3%

Shares of Alibaba Group stock opened at $157.02 on Wednesday. The stock’s fifty day moving average is $168.67 and its 200-day moving average is $138.36. The firm has a market capitalization of $374.67 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BABA shares. CLSA lifted their price target on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Macquarie reissued an “outperform” rating on shares of Alibaba Group in a report on Tuesday. Sanford C. Bernstein upped their price objective on shares of Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.44.

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.