Belpointe Asset Management LLC Has $1.98 Million Stake in Alibaba Group Holding Limited $BABA

Key Points

• Belpointe Asset Management LLC has reduced its holdings in Alibaba Group by 14.2%, owning 14,949 shares worth approximately $1.98 million after selling 2,481 shares recently.
• In contrast, several major institutional investors, including Goldman Sachs and Price T Rowe Associates, increased their stakes in Alibaba during the same quarter, indicating robust interest from large investors.
• Analyst sentiments are optimistic with multiple firms raising their target prices for Alibaba's stock, with a consensus rating of "Buy" and an average target price of $167.40.

Belpointe Asset Management LLC decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 14.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,949 shares of the specialty retailer's stock after selling 2,481 shares during the quarter. Belpointe Asset Management LLC's holdings in Alibaba Group were worth $1,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alibaba Group by 43.0% in the 1st 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 purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alibaba Group by 85.6% in the 1st 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. Temasek Holdings Private Ltd raised its stake in Alibaba Group by 23.4% in the 1st 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Down 2.2%

BABA opened at $143.86 on Thursday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43. 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 firm has a market capitalization of $342.99 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.05 and a beta of 0.11. The company's 50 day moving average price is $121.47 and its two-hundred day moving average price is $122.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BABA shares. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Jefferies Financial Group boosted their target price on shares of Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays boosted their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday. Benchmark boosted their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Mizuho boosted their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price 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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