Alibaba Group Holding Limited $BABA Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Alibaba Group by 35.2% in the second quarter, owning 69,245 shares valued at approximately $7.85 million.
• Several hedge funds have recently adjusted their positions in Alibaba, with a notable 1,960.0% increase from Hazlett Burt & Watson Inc. during the first quarter.
• Analysts are optimistic about Alibaba's stock, with a consensus rating of "Buy" and an average target price of $181.88, following recent upgrades from various financial institutions.

Janney Montgomery Scott LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 35.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,245 shares of the specialty retailer's stock after acquiring an additional 18,012 shares during the period. Janney Montgomery Scott LLC's holdings in Alibaba Group were worth $7,853,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group during the 1st quarter worth $26,000. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% during 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 in the last quarter. Ransom Advisory Ltd acquired a new position in Alibaba Group during the 1st quarter worth $26,000. 1248 Management LLC acquired a new position in Alibaba Group during the 1st quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Alibaba Group by 1,960.0% during 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 in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BABA has been the topic of a number of recent research reports. Erste Group Bank upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research report on Friday. UBS Group restated a "buy" rating and issued a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. Robert W. Baird raised their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Finally, Bank of America raised their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $181.88.

Alibaba Group Stock Down 0.7%

Alibaba Group stock opened at $187.94 on Monday. The stock has a market cap of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.22 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company's 50-day moving average price is $140.65 and its two-hundred day moving average price is $125.96. 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.

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