Elite Wealth Management Inc. lowered its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,629 shares of the specialty retailer’s stock after selling 646 shares during the quarter. Alibaba Group comprises approximately 2.9% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 9th largest holding. Elite Wealth Management Inc.’s holdings in Alibaba Group were worth $2,112,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Intercontinental Wealth Advisors LLC lifted its stake in Alibaba Group by 4.7% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 3,458 shares of the specialty retailer’s stock valued at $578,000 after acquiring an additional 156 shares in the last quarter. Arden Trust Co lifted its stake in Alibaba Group by 12.0% during the 3rd quarter. Arden Trust Co now owns 9,234 shares of the specialty retailer’s stock valued at $1,544,000 after acquiring an additional 987 shares in the last quarter. Polaris Greystone Financial Group LLC bought a new position in Alibaba Group during the 3rd quarter valued at $222,000. Diversified Trust Co lifted its stake in Alibaba Group by 40.9% during the 3rd quarter. Diversified Trust Co now owns 43,697 shares of the specialty retailer’s stock valued at $7,307,000 after acquiring an additional 12,678 shares in the last quarter. Finally, SevenBridge Financial Group LLC lifted its stake in Alibaba Group by 46.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 1,880 shares of the specialty retailer’s stock valued at $314,000 after acquiring an additional 592 shares in the last quarter. 43.42% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on BABA shares. Stifel Nicolaus set a $225.00 price objective on Alibaba Group and gave the company a “buy” rating in a research note on Tuesday, September 24th. Bank of America set a $233.00 target price on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, September 6th. Raymond James reiterated a “buy” rating on shares of Alibaba Group in a research note on Tuesday, September 24th. Oppenheimer set a $215.00 target price on Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Goldman Sachs Group set a $236.00 target price on Alibaba Group and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $221.64.
Alibaba Group stock traded up $3.26 during midday trading on Wednesday, reaching $165.19. The stock had a trading volume of 10,938,148 shares, compared to its average volume of 16,005,511. Alibaba Group Holding Ltd has a 12 month low of $129.77 and a 12 month high of $195.72. The firm’s 50-day moving average price is $173.17 and its 200 day moving average price is $172.26. The firm has a market capitalization of $420.31 billion, a PE ratio of 46.01, a P/E/G ratio of 1.05 and a beta of 2.27. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18.
Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.32. Alibaba Group had a return on equity of 14.36% and a net margin of 24.40%. The business had revenue of $114.92 billion for the quarter, compared to analysts’ expectations of $111.65 billion. During the same period in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities research analysts expect that Alibaba Group Holding Ltd will post 5.81 EPS for the current year.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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