Charles Schwab Investment Management Inc. Invests $1.84 Million in Alibaba Group Holding Limited $BABA

Key Points

• Charles Schwab Investment Management Inc. acquired 13,917 shares of Alibaba Group, valued at approximately $1.84 million, during the first quarter of the year.
• Other hedge funds also made significant purchases, with North Ridge Wealth Advisors acquiring shares valued at about $26,000, indicating increased institutional interest in Alibaba.
• Despite a consensus "Moderate Buy" rating, analysts have recently adjusted target prices for Alibaba shares, with forecasts ranging from $135 to $160 per share.

Charles Schwab Investment Management Inc. bought a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,917 shares of the specialty retailer's stock, valued at approximately $1,840,000.

A number of other institutional investors have also modified their holdings of the business. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. Evolution Wealth Advisors LLC increased its holdings in shares of Alibaba Group by 7.0% in the 1st quarter. Evolution Wealth Advisors LLC now owns 5,890 shares of the specialty retailer's stock valued at $779,000 after acquiring an additional 385 shares during the period. Wharton Business Group LLC purchased a new stake in shares of Alibaba Group during the first quarter worth approximately $251,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alibaba Group during the first quarter worth approximately $308,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of Alibaba Group during the first quarter worth approximately $252,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BABA shares. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Citigroup upped their price target on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark upped their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Jefferies Financial Group set a $165.00 price target on Alibaba Group and gave the stock a "buy" rating in a research note on Friday. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.53.

Alibaba Group Price Performance

Alibaba Group stock traded down $1.47 during midday trading on Wednesday, reaching $137.08. The company's stock had a trading volume of 12,183,729 shares, compared to its average volume of 21,234,053. 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 quick ratio of 1.55 and a current ratio of 1.55. The stock's 50 day simple moving average is $118.38 and its 200 day simple moving average is $121.91. The firm has a market capitalization of $326.83 billion, a PE ratio of 15.93, a P/E/G ratio of 1.99 and a beta of 0.11.

About Alibaba Group

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.