Fortis Capital Advisors LLC Has $894,000 Stake in Alibaba Group Holding Limited $BABA

Key Points

• Fortis Capital Advisors LLC significantly increased its stake in Alibaba Group by 40.3%, now owning shares valued at $894,000.
• A number of hedge funds have also adjusted their positions in Alibaba, with HighMark Wealth Management LLC increasing its holdings by 175.4% during the second quarter.
• Analysts have varying opinions on Alibaba, with JPMorgan Chase & Co. raising their target price to $245.00 and maintaining an "overweight" rating.

Fortis Capital Advisors LLC increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 40.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,879 shares of the specialty retailer's stock after acquiring an additional 2,264 shares during the period. Fortis Capital Advisors LLC's holdings in Alibaba Group were worth $894,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Ascent Group LLC increased its holdings in shares of Alibaba Group by 3.8% during the 2nd quarter. Ascent Group LLC now owns 3,304 shares of the specialty retailer's stock valued at $375,000 after acquiring an additional 120 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Alibaba Group during the 2nd quarter valued at about $112,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Alibaba Group by 9.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,855 shares of the specialty retailer's stock valued at $324,000 after acquiring an additional 239 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Alibaba Group by 175.4% during the 2nd quarter. HighMark Wealth Management LLC now owns 1,873 shares of the specialty retailer's stock valued at $212,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Alibaba Group during the 2nd quarter valued at approximately $58,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

Alibaba Group stock opened at $187.94 on Friday. 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 company has a market capitalization of $448.06 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The business has a 50 day simple moving average of $140.65 and a 200 day simple moving average of $126.16.

Analysts Set New Price Targets

A number of research firms have issued reports on BABA. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their target price on Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a report on Wednesday. Erste Group Bank raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Friday. Finally, Robert W. Baird raised their target price on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $181.88.

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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