Retirement Planning Co of New England Inc. Has $2.31 Million Stake in Alibaba Group Holding Limited $BABA

Retirement Planning Co of New England Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 69.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,445 shares of the specialty retailer’s stock after buying an additional 7,133 shares during the period. Alibaba Group accounts for about 0.8% of Retirement Planning Co of New England Inc.’s portfolio, making the stock its 26th biggest holding. Retirement Planning Co of New England Inc.’s holdings in Alibaba Group were worth $2,307,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock valued at $303,215,000 after buying an additional 785,494 shares during the last quarter. Causeway Capital Management LLC lifted its position in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock valued at $179,305,000 after buying an additional 404,842 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC bought a new position in shares of Alibaba Group during the first quarter worth approximately $1,948,000. Finally, Avaii Wealth Management LLC bought a new position in shares of Alibaba Group during the first quarter worth approximately $563,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Alibaba Group stock opened at $135.11 on Friday. The stock’s fifty day moving average price is $117.51 and its two-hundred day moving average price is $121.71. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $322.22 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.17.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Mizuho lowered their target price on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on Alibaba Group in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research note on Wednesday, May 14th. Finally, Arete lowered Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 target price on the stock. in a research note on Tuesday, June 24th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $159.67.

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.