Grant Private Wealth Management Inc Invests $693,000 in Alibaba Group Holding Limited $BABA

Grant Private Wealth Management Inc bought a new stake 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 fund bought 3,880 shares of the specialty retailer’s stock, valued at approximately $693,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Traphagen Investment Advisors LLC boosted its holdings in Alibaba Group by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after acquiring an additional 59 shares in the last quarter. Cary Street Partners Financial LLC boosted its stake in shares of Alibaba Group by 1.8% during the 2nd quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock valued at $539,000 after purchasing an additional 83 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of Alibaba Group by 2.1% during the second quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock valued at $480,000 after buying an additional 88 shares during the period. CWM LLC increased its position in shares of Alibaba Group by 0.8% during the second quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock valued at $1,364,000 after buying an additional 92 shares during the period. Finally, Fifth Third Bancorp raised its stake in Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $149.50 on Wednesday. The business has a fifty day moving average price of $163.22 and a 200-day moving average price of $141.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $356.72 billion, a PE ratio of 20.65, a PEG ratio of 2.30 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BABA. Wall Street Zen cut Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. CLSA upped their price target on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Benchmark reiterated a “buy” rating and issued a $195.00 price objective on shares of Alibaba Group in a report on Tuesday, November 25th. Jefferies Financial Group upped their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, UBS Group reiterated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $194.00.

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.