Udine Wealth Management Inc. Buys 102 Shares of Alibaba Group Holding Limited $BABA

Udine Wealth Management Inc. grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,890 shares of the specialty retailer’s stock after acquiring an additional 102 shares during the quarter. Alibaba Group comprises approximately 1.1% of Udine Wealth Management Inc.’s portfolio, making the stock its 26th biggest position. Udine Wealth Management Inc.’s holdings in Alibaba Group were worth $1,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its holdings in shares of Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after acquiring an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after acquiring an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after acquiring an additional 3,947,460 shares in the last quarter. Finally, Temasek Holdings Private Ltd increased its holdings in shares of Alibaba Group by 23.4% during the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after acquiring an additional 1,045,789 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the subject of several analyst reports. Benchmark raised their price target on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Robert W. Baird increased their price objective on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Nomura increased their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Sanford C. Bernstein increased their price objective on Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $188.06.

Alibaba Group Trading Down 8.6%

Shares of NYSE:BABA opened at $158.76 on Friday. The stock has a market capitalization of $378.50 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.88 and a beta of 0.18. 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’s 50-day simple moving average is $146.36 and its two-hundred day simple moving average is $127.50. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67.

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.