Prime Capital Investment Advisors LLC Buys 19,488 Shares of Alibaba Group Holding Limited $BABA

Prime Capital Investment Advisors LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 482.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,528 shares of the specialty retailer’s stock after buying an additional 19,488 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Alibaba Group were worth $4,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 981 shares during the period. AQR Capital Management LLC bought a new stake in Alibaba Group during the 1st quarter valued at $254,000. Ameritas Advisory Services LLC purchased a new stake in shares of Alibaba Group in the 2nd quarter worth $112,000. Venturi Wealth Management LLC grew its position in shares of Alibaba Group by 25.3% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,760 shares of the specialty retailer’s stock worth $313,000 after buying an additional 558 shares in the last quarter. Finally, Clear Creek Financial Management LLC purchased a new position in shares of Alibaba Group during the second quarter valued at $201,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 3.0%

Alibaba Group stock opened at $162.57 on Friday. Alibaba Group Holding Limited has a 1-year low of $95.73 and a 1-year high of $192.67. The business has a fifty day moving average price of $158.99 and a 200-day moving average price of $153.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $388.12 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.44 and a beta of 0.39.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BABA shares. JPMorgan Chase & Co. dropped their target price on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Wall Street Zen cut shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Arete Research raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Wednesday, January 21st. Macquarie Infrastructure restated an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Finally, Citigroup lifted their price target on Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.