3,617 Shares in Alibaba Group Holding Limited $BABA Purchased by Momentum Wealth Planning LLC

Momentum Wealth Planning LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,617 shares of the specialty retailer’s stock, valued at approximately $421,000.

Several other large investors have also modified their holdings of BABA. Canal Capital Management LLC lifted its stake in shares of Alibaba Group by 4.2% during the 2nd quarter. Canal Capital Management LLC now owns 40,901 shares of the specialty retailer’s stock worth $4,639,000 after acquiring an additional 1,650 shares during the last quarter. Centaurus Financial Inc. grew its position in Alibaba Group by 4.7% in the 2nd quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock valued at $238,000 after acquiring an additional 94 shares during the last quarter. Infini Capital Management Ltd grew its stake in Alibaba Group by 1,215,800.0% in the second quarter. Infini Capital Management Ltd now owns 303,975 shares of the specialty retailer’s stock worth $34,474,000 after purchasing an additional 303,950 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in Alibaba Group by 3.9% in the second quarter. Orion Porfolio Solutions LLC now owns 33,111 shares of the specialty retailer’s stock worth $3,755,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Marex Group plc purchased a new position in Alibaba Group during the 2nd quarter worth $17,139,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA opened at $155.56 on Monday. The stock has a 50-day moving average of $164.60 and a two-hundred day moving average of $141.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market cap of $371.18 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.39 and a beta of 0.33. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BABA. Arete Research set a $172.00 price target on Alibaba Group in a research report on Tuesday, December 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Nomura boosted their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Benchmark reiterated a “buy” rating and issued a $195.00 price target on shares of Alibaba Group in a research note on Tuesday, November 25th. Finally, Mizuho set a $195.00 price target on Alibaba Group in a report on Wednesday, October 22nd. Seventeen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Alibaba Group 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.