First Wilshire Securities Management Inc. Raises Stock Holdings in Alibaba Group Holding Limited $BABA

First Wilshire Securities Management Inc. lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 18.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,434 shares of the specialty retailer’s stock after acquiring an additional 544 shares during the quarter. First Wilshire Securities Management Inc.’s holdings in Alibaba Group were worth $454,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC increased its position in Alibaba Group by 100.3% in the first 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. Hazlett Burt & Watson Inc. increased its position in Alibaba Group by 1,960.0% in the first 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. Inlight Wealth Management LLC purchased a new stake in Alibaba Group in the first quarter worth $31,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group in the first quarter worth $31,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on BABA. Arete Research downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 24th. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Bank of America reduced their price target on Alibaba Group from $145.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, July 11th. Wall Street Zen cut Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Mizuho reduced their price target on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $157.38.

Alibaba Group Price Performance

NYSE:BABA opened at $121.41 on Tuesday. The firm has a market capitalization of $289.54 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.78 and a beta of 0.17. Alibaba Group Holding Limited has a 52-week low of $79.21 and a 52-week high of $148.43. The stock has a fifty day moving average of $116.23 and a 200 day moving average of $120.75. 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 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.