Aries Wealth Management Acquires Shares of 2,015 Alibaba Group Holding Limited $BABA

Key Points

• Aries Wealth Management has acquired a new stake of 2,015 shares in Alibaba Group Holding Limited, valued at approximately $229,000.
• A number of institutional investors have significantly increased their stakes in Alibaba, including Kingstone Capital Partners, which boosted its stake by 1,349,768.3%, now holding over 49 million shares.
• Analysts predict positive growth for Alibaba, with Barclays raising its price target to $190.00 and the stock currently holding a consensus rating of "Buy" with an average target price of $188.06.

Aries Wealth Management acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,015 shares of the specialty retailer's stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC boosted its stake 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. Goldman Sachs Group Inc. boosted its stake in Alibaba Group by 22.6% in 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alibaba Group by 43.0% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 worth $1,131,558,000 after purchasing an additional 3,947,460 shares in the last quarter. Finally, Temasek Holdings Private Ltd boosted its position 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 worth $728,633,000 after purchasing an additional 1,045,789 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Down 2.3%

Shares of NYSE:BABA opened at $162.90 on Wednesday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. 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 company's fifty day simple moving average is $148.27 and its 200 day simple moving average is $127.93. The firm has a market cap of $388.37 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.09 and a beta of 0.18.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Citigroup reissued a "buy" rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Weiss Ratings reissued a "buy (b-)" rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Finally, Mizuho lifted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $188.06.

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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