Aaron Wealth Advisors LLC Increases Position in Alibaba Group Holding Limited $BABA

Key Points

• Aaron Wealth Advisors LLC increased its position in Alibaba Group by 46.1%, acquiring 3,198 additional shares, bringing their total holdings to 10,135 shares valued at approximately $1,149,000.
• Other institutional investors, including Hazlett Burt & Watson Inc. and Summit Securities Group LLC, also made significant increases in their stakes during the first quarter of the year.
• Analyst ratings for Alibaba have been predominantly positive, with a consensus rating of "Buy" and a target price hovered around $167.40, signaling confidence in the company's growth prospects.

Aaron Wealth Advisors LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 46.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,135 shares of the specialty retailer's stock after acquiring an additional 3,198 shares during the quarter. Aaron Wealth Advisors LLC's holdings in Alibaba Group were worth $1,149,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% during the first 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. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Alibaba Group by 1,960.0% during the first 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. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of BABA stock opened at $162.11 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $125.45 and a two-hundred day moving average of $122.87. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $163.00. The company has a market cap of $386.48 billion, a P/E ratio of 18.85, a PEG ratio of 1.94 and a beta of 0.11.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Bank of America lifted their price target on Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Jefferies Financial Group lifted their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, UBS Group reiterated a "buy" rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $167.40.

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.

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