Redwood Wealth Management Group LLC Has $626,000 Stake in Alibaba Group Holding Limited $BABA

Redwood Wealth Management Group LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.9% during the second quarter, Holdings Channel.com reports. The firm owned 5,519 shares of the specialty retailer’s stock after buying an additional 544 shares during the period. Redwood Wealth Management Group LLC’s holdings in Alibaba Group were worth $626,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its holdings in Alibaba Group by 1,349,768.3% in the second 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 buying an additional 49,010,087 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alibaba Group by 85.6% in the first 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 valued at $1,131,558,000 after buying an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Alibaba Group by 22.6% in 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 buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 2,584,480 shares during the period. Finally, Trivest Advisors Ltd acquired a new position in Alibaba Group in the first quarter valued at approximately $295,270,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 2.2%

Shares of BABA stock opened at $170.17 on Friday. The firm has a fifty day moving average of $161.36 and a 200-day moving average of $133.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a market capitalization of $406.04 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.40 and a beta of 0.18.

Analyst Ratings Changes

BABA has been the topic of several analyst reports. Mizuho set a $195.00 price objective on shares of Alibaba Group in a report on Wednesday, October 22nd. Nomura increased their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

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.