Alterna Wealth Management Inc. Increases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Alterna Wealth Management Inc. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,763 shares of the specialty retailer’s stock after purchasing an additional 209 shares during the quarter. Alterna Wealth Management Inc.’s holdings in Alibaba Group were worth $292,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BABA. M&T Bank Corp increased its holdings in shares of Alibaba Group by 19.1% in the fourth quarter. M&T Bank Corp now owns 51,805 shares of the specialty retailer’s stock worth $4,015,000 after purchasing an additional 8,318 shares during the last quarter. Merit Financial Group LLC raised its holdings in shares of Alibaba Group by 5.1% during the 4th quarter. Merit Financial Group LLC now owns 4,405 shares of the specialty retailer’s stock worth $341,000 after acquiring an additional 214 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Alibaba Group by 9.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,710 shares of the specialty retailer’s stock valued at $210,000 after acquiring an additional 227 shares during the last quarter. LGT Group Foundation grew its holdings in shares of Alibaba Group by 8.2% in the fourth quarter. LGT Group Foundation now owns 15,203 shares of the specialty retailer’s stock valued at $1,174,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Summit Financial LLC bought a new stake in Alibaba Group in the fourth quarter worth $203,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on BABA shares. Susquehanna decreased their target price on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 8th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Wednesday, April 10th. Barclays lowered their price target on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, January 12th. Robert W. Baird cut their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. Finally, Macquarie downgraded shares of Alibaba Group from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $88.50 to $85.40 in a research note on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.91.

Alibaba Group Stock Up 1.2 %

BABA stock traded up $1.00 on Friday, hitting $81.33. 19,355,807 shares of the company’s stock were exchanged, compared to its average volume of 15,275,838. The firm has a 50 day moving average price of $73.47 and a two-hundred day moving average price of $75.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. The stock has a market cap of $206.37 billion, a P/E ratio of 15.01 and a beta of 0.44.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The company had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same quarter last year, the company earned $2.44 EPS. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal year.

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.