Axxcess Wealth Management LLC Invests $1.63 Million in Alibaba Group Holding Limited $BABA

Axxcess Wealth Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,091 shares of the specialty retailer’s stock, valued at approximately $1,625,000.

A number of other institutional investors have also recently added to or reduced their stakes in BABA. Mather Group LLC. acquired a new position in shares of Alibaba Group during the third quarter worth about $30,000. NBT Bank N A NY raised its holdings in shares of Alibaba Group by 231.5% during the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 125 shares during the period. NewSquare Capital LLC lifted its position in Alibaba Group by 65.0% during the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 130 shares in the last quarter. Elkhorn Partners Limited Partnership boosted its holdings in Alibaba Group by 33.3% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 100 shares during the period. Finally, Richardson Financial Services Inc. boosted its holdings in Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 65 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BABA. Arete Research raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Wednesday, January 21st. Jefferies Financial Group dropped their target price on Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Sanford C. Bernstein lowered their price objective on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. Morgan Stanley cut their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Finally, Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a research note on Tuesday, November 25th. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Stock Performance

BABA stock opened at $154.35 on Friday. The stock’s 50 day simple moving average is $159.00 and its 200 day simple moving average is $155.98. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The firm has a market cap of $368.50 billion, a P/E ratio of 21.32, a P/E/G ratio of 3.41 and a beta of 0.39. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.