Apollon Wealth Management LLC Has $267,000 Holdings in Alibaba Group Holding Limited $BABA

Apollon Wealth Management LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 30.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,355 shares of the specialty retailer’s stock after selling 1,051 shares during the period. Apollon Wealth Management LLC’s holdings in Alibaba Group were worth $267,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC lifted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group during the 1st quarter worth about $26,000. 1248 Management LLC bought a new stake in shares of Alibaba Group during the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. grew its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a report on Wednesday, September 3rd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Alibaba Group Stock Performance

NYSE:BABA opened at $167.03 on Friday. The company has a market cap of $398.21 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.23 and a beta of 0.18. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average price of $150.98 and a 200-day moving average price of $128.65.

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.