Forteris Wealth Management Inc. Takes $749,000 Position in Alibaba Group Holding Limited $BABA

Forteris Wealth Management Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 5,107 shares of the specialty retailer’s stock, valued at approximately $749,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capital World Investors grew its holdings in shares of Alibaba Group by 1,074.9% during the 3rd quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock valued at $1,079,229,000 after acquiring an additional 5,524,354 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Alibaba Group by 0.5% during the 3rd quarter. Fisher Asset Management LLC now owns 5,293,597 shares of the specialty retailer’s stock valued at $946,125,000 after acquiring an additional 26,156 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Alibaba Group by 17.7% during the 3rd quarter. American Century Companies Inc. now owns 2,987,539 shares of the specialty retailer’s stock valued at $533,964,000 after acquiring an additional 448,484 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alibaba Group by 8.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,028,659 shares of the specialty retailer’s stock valued at $362,582,000 after acquiring an additional 166,134 shares in the last quarter. Finally, Coatue Management LLC grew its holdings in shares of Alibaba Group by 130.1% during the 3rd quarter. Coatue Management LLC now owns 1,996,593 shares of the specialty retailer’s stock valued at $356,851,000 after acquiring an additional 1,128,826 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on BABA shares. Mizuho lowered their price target on shares of Alibaba Group from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Freedom Capital cut shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Erste Group Bank lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Arete Research raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.68.

View Our Latest Report on BABA

Alibaba Group Stock Up 4.0%

BABA stock opened at $138.65 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. Alibaba Group Holding Limited has a 1 year low of $103.71 and a 1 year high of $192.67. The company has a fifty day simple moving average of $137.98 and a 200 day simple moving average of $154.51. The firm has a market cap of $331.02 billion, a PE ratio of 26.16, a PEG ratio of 2.40 and a beta of 0.50.

Alibaba Group (NYSE:BABAGet Free Report) last released its quarterly earnings data on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter. The business had revenue of $40.71 billion during the quarter. Alibaba Group had a net margin of 9.12% and a return on equity of 7.43%. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Key Stories Impacting Alibaba Group

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Alibaba Group Company Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

See Also

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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