Circle Wealth Management LLC Raises Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• Circle Wealth Management LLC increased its stake in Alibaba Group by 145.9% during Q1, acquiring a total of 22,030 shares and valuing its holdings at approximately $2.9 million.
• Several hedge funds, including Accent Capital Management and Greenleaf Trust, also adjusted their positions in Alibaba, contributing to a total of 13.47% of shares owned by institutional investors.
• Research analysts have recently downgraded Alibaba from "buy" to "hold" ratings, with a current consensus target price of $159.67 amidst fluctuating stock prices.

Circle Wealth Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 145.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,030 shares of the specialty retailer's stock after purchasing an additional 13,070 shares during the period. Circle Wealth Management LLC's holdings in Alibaba Group were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Accent Capital Management LLC raised its stake in Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after acquiring an additional 82 shares during the period. Greenleaf Trust grew its holdings in shares of Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the last quarter. Marcum Wealth LLC raised its position in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares during the period. Principal Securities Inc. raised its position in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. lifted 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 worth $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 1.1%

Alibaba Group stock opened at $118.1350 on Friday. Alibaba Group Holding Limited has a 12-month low of $79.21 and a 12-month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $281.73 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.76 and a beta of 0.17. The firm has a 50 day simple moving average of $116.21 and a 200-day simple moving average of $120.87.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a research report on Tuesday, June 24th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Bank of America decreased their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

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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