Alibaba Group Holding Limited $BABA Shares Acquired by RWA Wealth Partners LLC

RWA Wealth Partners LLC lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.2% during the first quarter, HoldingsChannel reports. The firm owned 22,922 shares of the specialty retailer’s stock after purchasing an additional 500 shares during the quarter. RWA Wealth Partners LLC’s holdings in Alibaba Group were worth $3,031,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC raised its holdings in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares during the last quarter. Inlight Wealth Management LLC bought a new position in Alibaba Group during the 1st quarter valued at $31,000. Finally, Bruce G. Allen Investments LLC bought a new position in Alibaba Group during the 1st quarter valued at $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BABA. Benchmark reiterated a “buy” rating on shares of Alibaba Group in a research note on Monday, July 21st. Arete downgraded shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective on the stock. in a research note on Tuesday, June 24th. Wall Street Zen downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Bank of America reduced their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. Finally, Arete Research downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $157.38.

Alibaba Group Stock Up 0.1%

Alibaba Group stock opened at $121.41 on Tuesday. The company has a 50-day simple moving average of $116.23 and a 200-day simple moving average of $120.75. The firm has a market capitalization of $289.54 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.78 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43.

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.