Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 1,019.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,550 shares of the specialty retailer’s stock after purchasing an additional 181,720 shares during the period. Alibaba Group comprises about 2.4% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 21st biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Alibaba Group were worth $4,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NuWave Investment Management LLC grew its holdings in shares of Alibaba Group by 45,800.0% in the fourth quarter. NuWave Investment Management LLC now owns 1,377 shares of the specialty retailer’s stock valued at $320,000 after purchasing an additional 1,374 shares during the period. Huntington National Bank lifted its position in Alibaba Group by 2.5% in the fourth quarter. Huntington National Bank now owns 17,103 shares of the specialty retailer’s stock valued at $3,981,000 after buying an additional 411 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Alibaba Group by 3.8% during the fourth quarter. North Star Investment Management Corp. now owns 2,143 shares of the specialty retailer’s stock worth $499,000 after purchasing an additional 78 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in shares of Alibaba Group by 68.4% during the fourth quarter. Hohimer Wealth Management LLC now owns 24,746 shares of the specialty retailer’s stock worth $5,759,000 after purchasing an additional 10,053 shares in the last quarter. Finally, HBW Advisory Services LLC lifted its position in shares of Alibaba Group by 27.5% during the fourth quarter. HBW Advisory Services LLC now owns 1,276 shares of the specialty retailer’s stock worth $297,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 40.38% of the company’s stock.

BABA traded up $0.35 during midday trading on Wednesday, hitting $221.73. The company’s stock had a trading volume of 245,118 shares, compared to its average volume of 17,850,734. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.12. The firm has a market cap of $599.92 billion, a P/E ratio of 31.76, a PEG ratio of 1.59 and a beta of 0.99. The firm has a 50-day moving average price of $230.26 and a two-hundred day moving average price of $250.89. Alibaba Group Holding Limited has a 52-week low of $194.03 and a 52-week high of $319.32.

Several analysts recently weighed in on BABA shares. Citigroup reduced their target price on shares of Alibaba Group from $345.00 to $338.00 in a report on Friday, April 9th. CLSA reduced their target price on shares of Alibaba Group from $351.00 to $320.00 and set a “buy” rating on the stock in a report on Monday, April 12th. CICC Research started coverage on shares of Alibaba Group in a report on Friday, April 2nd. They issued an “outperform” rating on the stock. Mizuho increased their price target on shares of Alibaba Group from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. Finally, Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating and set a $239.00 price target on the stock in a research note on Tuesday, March 30th. Three investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $318.52.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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