GC Wealth Management RIA LLC Purchases Shares of 7,418 Alibaba Group Holding Limited $BABA

Key Points

• GC Wealth Management RIA LLC has acquired 7,418 shares of Alibaba Group Holding Limited, valued at approximately $841,000, during the second quarter.
• Several institutional investors, including Clay Northam Wealth Management LLC and SeaBridge Investment Advisors LLC, have also increased their stakes in Alibaba Group, contributing to a total institutional ownership of 13.47% of the stock.
• Analysts have raised their price targets for Alibaba Group, with Mizuho and Susquehanna both projecting new target prices significantly above previous estimates, reflecting positive market sentiment.

GC Wealth Management RIA LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,418 shares of the specialty retailer's stock, valued at approximately $841,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Clay Northam Wealth Management LLC increased its position in Alibaba Group by 5.2% in the second quarter. Clay Northam Wealth Management LLC now owns 5,019 shares of the specialty retailer's stock worth $569,000 after purchasing an additional 250 shares during the last quarter. SeaBridge Investment Advisors LLC increased its holdings in shares of Alibaba Group by 12.0% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 30,432 shares of the specialty retailer's stock worth $3,451,000 after buying an additional 3,255 shares during the last quarter. ORG Partners LLC raised its position in shares of Alibaba Group by 34.0% during the 2nd quarter. ORG Partners LLC now owns 422 shares of the specialty retailer's stock valued at $48,000 after buying an additional 107 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of Alibaba Group by 81.2% in the 2nd quarter. Highline Wealth Partners LLC now owns 625 shares of the specialty retailer's stock valued at $71,000 after acquiring an additional 280 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its position in Alibaba Group by 10.7% in the second quarter. Kathmere Capital Management LLC now owns 10,136 shares of the specialty retailer's stock worth $1,150,000 after acquiring an additional 977 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

BABA stock opened at $179.89 on Tuesday. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $181.34. The firm has a market cap of $428.88 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 1.98 and a beta of 0.11. The business's fifty day simple moving average is $135.57 and its two-hundred day simple moving average is $124.79. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BABA shares. Mizuho raised their price objective on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Susquehanna raised their price target on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research report on Thursday, September 18th. Bank of America lifted their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. UBS Group reissued a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Barclays increased their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Alibaba Group has an average rating of "Buy" and an average target price of $176.06.

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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