Belpointe Asset Management LLC Sells 2,481 Shares of Alibaba Group Holding Limited $BABA

Belpointe Asset Management LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 14.2% during the first quarter, HoldingsChannel reports. The fund owned 14,949 shares of the specialty retailer’s stock after selling 2,481 shares during the quarter. Belpointe Asset Management LLC’s holdings in Alibaba Group were worth $1,977,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BABA. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group during the 1st quarter valued at about $26,000. Summit Securities Group LLC boosted its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in Alibaba Group during the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Alibaba Group during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BABA shares. Barclays raised their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday. Benchmark raised their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Jefferies Financial Group raised their price target on shares of Alibaba Group from $165.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $167.40.

Alibaba Group Stock Performance

NYSE BABA opened at $143.86 on Thursday. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43. The company has a 50-day simple moving average of $121.47 and a 200 day simple moving average of $122.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $342.99 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.11.

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.