Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,325 shares of the specialty retailer’s stock after purchasing an additional 141 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Alibaba Group were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Thrivent Financial for Lutherans purchased a new stake in shares of Alibaba Group in the third quarter valued at $321,000. The Manufacturers Life Insurance Company purchased a new stake in Alibaba Group in the 3rd quarter valued at about $287,000. FMR LLC increased its stake in shares of Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Alibaba Group in the third quarter worth approximately $518,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Alibaba Group by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock valued at $1,523,000 after purchasing an additional 390 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BABA. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Wednesday. Benchmark boosted their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Robert W. Baird boosted their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Mizuho raised their price target on shares of Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a report on Friday. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $148.14.

Alibaba Group Stock Performance

Alibaba Group stock opened at $132.49 on Friday. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $148.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $314.80 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The stock has a 50 day moving average of $121.60 and a 200-day moving average of $102.45.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

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.