Alibaba Group Holding Limited $BABA Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 64.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the specialty retailer’s stock after acquiring an additional 1,296 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Alibaba Group were worth $374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BABA. Brighton Jones LLC increased its holdings in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Alibaba Group by 3.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 72,581 shares of the specialty retailer’s stock worth $9,597,000 after buying an additional 2,731 shares during the period. Mission Wealth Management LP acquired a new position in Alibaba Group in the 1st quarter worth approximately $210,000. Janney Montgomery Scott LLC increased its holdings in Alibaba Group by 15.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,233 shares of the specialty retailer’s stock worth $6,775,000 after buying an additional 6,795 shares during the period. Finally, Sowell Financial Services LLC acquired a new position in Alibaba Group in the 1st quarter worth approximately $903,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.9%

Shares of BABA stock opened at $165.88 on Thursday. The stock’s fifty day moving average is $149.17 and its two-hundred day moving average is $128.19. 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 firm has a market capitalization of $395.48 billion, a P/E ratio of 19.29, a PEG ratio of 2.18 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BABA. Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. CLSA raised their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Mizuho raised their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Finally, Robert W. Baird raised their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Buy” and an average price target of $188.06.

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.