Ascent Group LLC Makes New $421,000 Investment in Alibaba Group Holding Limited $BABA

Ascent Group LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA) in the first quarter, Holdings Channel reports. The institutional investor bought 3,184 shares of the specialty retailer’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the 1st quarter worth $26,000. Summit Securities Group LLC increased its stake in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup raised their price objective on Alibaba Group from $148.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Robert W. Baird raised their price objective on Alibaba Group from $142.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $167.40.

Alibaba Group Stock Performance

NYSE BABA opened at $155.55 on Friday. The company has a market cap of $370.87 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.01 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a 50-day moving average of $122.41 and a two-hundred day moving average of $122.48. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $156.85.

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.