Savvy Advisors Inc. Purchases 521 Shares of Alibaba Group Holding Limited $BABA

Savvy Advisors Inc. boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,233 shares of the specialty retailer’s stock after acquiring an additional 521 shares during the period. Savvy Advisors Inc.’s holdings in Alibaba Group were worth $707,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BABA. Kingstone Capital Partners Texas LLC boosted its holdings in Alibaba Group by 1,349,768.3% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 worth $1,131,558,000 after buying an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in 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 worth $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Finally, Trivest Advisors Ltd bought a new position in Alibaba Group during the first quarter worth about $295,270,000. Institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BABA. Robert W. Baird raised their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Sanford C. Bernstein raised their target price on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, UBS Group restated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. One investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Trading Down 2.2%

NYSE BABA opened at $170.17 on Friday. The firm has a market cap of $406.04 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.40 and a beta of 0.18. 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’s 50-day moving average is $161.36 and its 200-day moving average is $133.13. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67.

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.