Belpointe Asset Management LLC Increases Stock Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Belpointe Asset Management LLC increased its stake in Alibaba Group by 22.4% during the second quarter, owning a total of 18,305 shares valued at over $2 million.
• Several institutional investors are also boosting their positions in Alibaba, with 13.47% of the stock currently owned by hedge funds and other institutions.
• Alibaba Group received multiple analyst upgrades, with the consensus target price raised to $184.19 and a majority of analysts rating the stock as a "Buy".

Belpointe Asset Management LLC boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,305 shares of the specialty retailer's stock after acquiring an additional 3,356 shares during the period. Belpointe Asset Management LLC's holdings in Alibaba Group were worth $2,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Accent Capital Management LLC increased its holdings in shares of Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after purchasing an additional 82 shares during the period. Greenleaf Trust increased its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares during the last quarter. Principal Securities Inc. increased its stake in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after acquiring an additional 89 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after acquiring an additional 93 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Alibaba Group by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer's stock valued at $1,109,000 after acquiring an additional 94 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BABA shares. Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Mizuho boosted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. UBS Group restated a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Bank of America upped their target price 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. Finally, Arete upgraded 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Alibaba Group currently has an average rating of "Buy" and a consensus target price of $184.19.

Alibaba Group Price Performance

BABA stock opened at $187.24 on Tuesday. The firm has a market cap of $446.39 billion, a P/E ratio of 21.77, a P/E/G ratio of 2.22 and a beta of 0.18. The firm's fifty day moving average is $141.95 and its 200 day moving average is $126.33. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Alibaba Group Company 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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