Alibaba Group Holding Limited $BABA Shares Acquired by GM Advisory Group LLC

GM Advisory Group LLC lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 35.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,422 shares of the specialty retailer’s stock after buying an additional 2,449 shares during the quarter. GM Advisory Group LLC’s holdings in Alibaba Group were worth $1,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BABA. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group in the second quarter valued at approximately $26,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $157.68 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The firm’s 50 day moving average is $168.41 and its two-hundred day moving average is $138.63. The firm has a market capitalization of $376.24 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.40 and a beta of 0.19.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BABA. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Sanford C. Bernstein decreased their target price on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays upped their price target on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup increased their price target on Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.89.

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.