HighMark Wealth Management LLC Increases Stock Position in Alibaba Group Holding Limited $BABA

HighMark Wealth Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 175.4% during the second quarter, Holdings Channel.com reports. The firm owned 1,873 shares of the specialty retailer’s stock after buying an additional 1,193 shares during the period. HighMark Wealth Management LLC’s holdings in Alibaba Group were worth $212,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BABA. Kingstone Capital Partners Texas LLC boosted its position in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 3.6%

Shares of BABA stock opened at $189.38 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The firm has a market capitalization of $451.50 billion, a PE ratio of 22.02, a P/E/G ratio of 2.11 and a beta of 0.18. The stock’s 50-day simple moving average is $139.30 and its 200-day simple moving average is $125.85.

Analyst Ratings Changes

Several research firms have commented on BABA. Mizuho increased their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research report on Tuesday, September 2nd. CLSA boosted their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. Barclays lifted their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $181.88.

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.