Laurel Wealth Advisors LLC Has $643,000 Position in Alibaba Group Holding Limited $BABA

Laurel Wealth Advisors LLC lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 11,242.0% during the second quarter, HoldingsChannel.com reports. The fund owned 5,671 shares of the specialty retailer’s stock after purchasing an additional 5,621 shares during the period. Laurel Wealth Advisors LLC’s holdings in Alibaba Group were worth $643,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after buying an additional 981 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in shares of Alibaba Group in the first quarter worth about $228,000. Modera Wealth Management LLC bought a new position in shares of Alibaba Group during the 1st quarter valued at about $347,000. NorthRock Partners LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at approximately $236,000. Finally, Alberta Investment Management Corp raised its holdings in Alibaba Group by 6.7% during the 1st quarter. Alberta Investment Management Corp now owns 378,358 shares of the specialty retailer’s stock worth $50,030,000 after buying an additional 23,904 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BABA. JPMorgan Chase & Co. lowered their price objective on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Alibaba Group in a research note on Tuesday. Bank of America upped their price objective on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Susquehanna lifted their target price on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Finally, Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $191.89.

Alibaba Group Stock Performance

BABA opened at $157.19 on Friday. The business’s 50-day simple moving average is $168.30 and its 200 day simple moving average is $138.80. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. 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 firm has a market capitalization of $375.06 billion, a PE ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19.

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.