Somerset Trust Co Invests $579,000 in Alibaba Group Holding Limited $BABA

Somerset Trust Co bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,101 shares of the specialty retailer’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BABA. TrueWealth Advisors LLC raised its position in Alibaba Group by 10.2% during the 2nd quarter. TrueWealth Advisors LLC now owns 3,512 shares of the specialty retailer’s stock worth $398,000 after buying an additional 325 shares during the last quarter. Garde Capital Inc. increased its stake in shares of Alibaba Group by 11.3% in the second quarter. Garde Capital Inc. now owns 2,228 shares of the specialty retailer’s stock worth $253,000 after acquiring an additional 226 shares during the period. Voya Investment Management LLC raised its holdings in shares of Alibaba Group by 1,048.9% during the first quarter. Voya Investment Management LLC now owns 454,980 shares of the specialty retailer’s stock worth $60,162,000 after purchasing an additional 415,380 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in Alibaba Group by 30.8% in the first quarter. Guinness Asset Management LTD now owns 497 shares of the specialty retailer’s stock valued at $66,000 after purchasing an additional 117 shares during the last quarter. Finally, 1248 Management LLC acquired a new stake in Alibaba Group during the 1st quarter worth about $26,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.3%

Shares of BABA stock opened at $155.02 on Friday. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $156.85. The company has a market cap of $369.60 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a 50 day simple moving average of $123.33 and a 200-day simple moving average of $122.51.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BABA shares. Citigroup boosted their price objective on Alibaba Group from $148.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Benchmark upped their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Bank of America lifted their target price on shares of Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Finally, Robert W. Baird increased their price target on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $167.40.

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.