Clark Capital Management Group Inc. Has $61.15 Million Stock Holdings in Alibaba Group Holding Limited $BABA

Clark Capital Management Group Inc. decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,480 shares of the specialty retailer’s stock after selling 11,523 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Alibaba Group were worth $61,154,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Alibaba Group by 68.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 3,270 shares of the specialty retailer’s stock valued at $277,000 after acquiring an additional 1,325 shares during the last quarter. Ameriprise Financial Inc. grew its position in Alibaba Group by 13.0% in the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer’s stock valued at $39,992,000 after acquiring an additional 54,342 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in Alibaba Group in the fourth quarter valued at about $439,000. Finally, Captrust Financial Advisors grew its position in Alibaba Group by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer’s stock valued at $950,000 after acquiring an additional 536 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $136.44 on Thursday. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50 day moving average price is $118.82 and its two-hundred day moving average price is $122.01. The firm has a market cap of $325.31 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Benchmark boosted their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group set a $165.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Barclays decreased their target price on shares of Alibaba Group from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $163.53.

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.