Nicholas Hoffman & Company LLC. raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 84.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,091 shares of the specialty retailer’s stock after purchasing an additional 957 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Alibaba Group were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Camden National Bank grew its position in shares of Alibaba Group by 56.8% in the fourth quarter. Camden National Bank now owns 27,238 shares of the specialty retailer’s stock valued at $6,339,000 after purchasing an additional 9,866 shares during the last quarter. Signet Financial Management LLC grew its position in shares of Alibaba Group by 9.3% in the first quarter. Signet Financial Management LLC now owns 1,015 shares of the specialty retailer’s stock valued at $230,000 after purchasing an additional 86 shares during the last quarter. Avidian Wealth Solutions LLC grew its position in Alibaba Group by 16.3% during the first quarter. Avidian Wealth Solutions LLC now owns 2,680 shares of the specialty retailer’s stock worth $608,000 after buying an additional 375 shares in the last quarter. Donaldson Capital Management LLC acquired a new stake in Alibaba Group during the first quarter worth approximately $200,000. Finally, Bridges Investment Management Inc. acquired a new stake in Alibaba Group during the first quarter worth approximately $995,000. Hedge funds and other institutional investors own 24.48% of the company’s stock.
Shares of Alibaba Group stock opened at $160.15 on Wednesday. The stock has a fifty day simple moving average of $186.81 and a 200 day simple moving average of $211.29. Alibaba Group Holding Limited has a 12-month low of $152.80 and a 12-month high of $319.32. The company has a market capitalization of $435.32 billion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.31 and a beta of 0.79. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.12.
A number of brokerages recently issued reports on BABA. CLSA reduced their price target on Alibaba Group from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, August 4th. Susquehanna cut their target price on Alibaba Group from $350.00 to $310.00 and set a “positive” rating for the company in a research note on Thursday, August 5th. Erste Group cut Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, August 20th. DZ Bank cut Alibaba Group from a “buy” rating to a “sell” rating and set a $192.00 target price for the company. in a research note on Tuesday, July 27th. Finally, Benchmark cut their target price on Alibaba Group from $282.00 to $277.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $297.55.
Alibaba Group Company Profile
Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.
Featured Article: Growth and Income Funds
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.