Maridea Wealth Management LLC Acquires Shares of 6,825 Alibaba Group Holding Limited (NYSE:BABA)

Maridea Wealth Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,825 shares of the specialty retailer’s stock, valued at approximately $579,000.

Several other hedge funds have also modified their holdings of BABA. Brown Brothers Harriman & Co. lifted its holdings in Alibaba Group by 0.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 30,855 shares of the specialty retailer’s stock valued at $2,616,000 after acquiring an additional 152 shares during the period. DnB Asset Management AS acquired a new stake in shares of Alibaba Group in the fourth quarter valued at about $548,000. Level Four Advisory Services LLC boosted its holdings in Alibaba Group by 18.7% during the fourth quarter. Level Four Advisory Services LLC now owns 3,167 shares of the specialty retailer’s stock worth $269,000 after buying an additional 500 shares in the last quarter. Premier Fund Managers Ltd acquired a new position in Alibaba Group during the fourth quarter worth about $5,528,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Alibaba Group by 4.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 240,611 shares of the specialty retailer’s stock valued at $20,401,000 after acquiring an additional 11,200 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BABA has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Robert W. Baird upped their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Barclays raised their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Buy” and a consensus target price of $148.14.

Alibaba Group Stock Down 2.3 %

Shares of NYSE:BABA opened at $132.49 on Friday. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $148.43. The stock’s 50-day moving average price is $121.60 and its two-hundred day moving average price is $102.45. 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 firm has a market cap of $314.80 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 0.61 and a beta of 0.28.

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

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.