Steward Partners Investment Advisory LLC Buys 6,785 Shares of Alibaba Group Holding Limited $BABA

Steward Partners Investment Advisory LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 16.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,567 shares of the specialty retailer’s stock after acquiring an additional 6,785 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Alibaba Group were worth $5,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BABA. DCF Advisers LLC raised its holdings in Alibaba Group by 0.9% during the 2nd quarter. DCF Advisers LLC now owns 39,150 shares of the specialty retailer’s stock worth $4,440,000 after purchasing an additional 350 shares during the last quarter. Insigneo Advisory Services LLC increased its position in shares of Alibaba Group by 22.9% during the second quarter. Insigneo Advisory Services LLC now owns 28,772 shares of the specialty retailer’s stock worth $3,263,000 after buying an additional 5,354 shares during the period. Discerene Group LP raised its stake in Alibaba Group by 0.6% during the second quarter. Discerene Group LP now owns 2,985,487 shares of the specialty retailer’s stock worth $338,584,000 after buying an additional 18,400 shares during the last quarter. Summit Global Investments raised its stake in Alibaba Group by 37.1% during the second quarter. Summit Global Investments now owns 7,586 shares of the specialty retailer’s stock worth $860,000 after buying an additional 2,051 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Alibaba Group in the second quarter valued at $805,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BABA. Jefferies Financial Group increased their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Mizuho set a $195.00 target price on Alibaba Group in a research note on Wednesday, October 22nd. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Rosenblatt Securities set a $195.00 price objective on shares of Alibaba Group in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.89.

Alibaba Group Trading Up 0.4%

Shares of Alibaba Group stock opened at $157.68 on Thursday. The stock has a market capitalization of $376.24 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The stock has a 50 day moving average price of $168.51 and a two-hundred day moving average price of $138.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

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.