Waterfront Wealth Inc. Buys 1,721 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Waterfront Wealth Inc. raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,211 shares of the specialty retailer’s stock after acquiring an additional 1,721 shares during the quarter. Waterfront Wealth Inc.’s holdings in Alibaba Group were worth $1,798,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Concord Wealth Partners raised its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of Alibaba Group in the third quarter valued at about $36,000. Decker Retirement Planning Inc. bought a new position in shares of Alibaba Group in the fourth quarter valued at about $31,000. Sierra Ocean LLC bought a new position in shares of Alibaba Group in the fourth quarter valued at about $32,000. Finally, Assetmark Inc. raised its holdings in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

Alibaba Group stock opened at $136.26 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $94.31 and a 200-day moving average of $92.42. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $144.51. The firm has a market capitalization of $323.74 billion, a P/E ratio of 27.64, a PEG ratio of 0.54 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BABA. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price objective on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Finally, Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.93.

Alibaba Group 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.