NTV Asset Management LLC Boosts Stock Position in Alibaba Group Holding Limited $BABA

NTV Asset Management LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 6,659 shares of the specialty retailer’s stock after buying an additional 401 shares during the period. NTV Asset Management LLC’s holdings in Alibaba Group were worth $755,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC boosted its stake in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter worth about $26,000. 1248 Management LLC acquired a new stake in Alibaba Group in the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Mizuho raised their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Susquehanna lifted their price objective on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Bank of America lifted their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $170.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Buy” and a consensus price target of $181.88.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $187.94 on Friday. The company has a market cap of $448.06 billion, a P/E ratio of 21.85, a PEG ratio of 2.24 and a beta of 0.18. 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 one year low of $80.06 and a one year high of $192.67. The business’s 50-day simple moving average is $140.65 and its 200 day simple moving average is $126.16.

About Alibaba Group

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.