GM Advisory Group LLC Has $922,000 Holdings in Alibaba Group Holding Limited $BABA

Key Points

• GM Advisory Group LLC reduced its holdings in Alibaba Group by 68.3% during the 1st quarter, now owning 6,973 shares worth approximately $922,000.
• Several institutional investors, including North Ridge Wealth Advisors Inc. and Hazlett Burt & Watson Inc., have recently acquired positions in Alibaba Group, contributing to institutional ownership of 13.47%.
• Analysts have mixed views on Alibaba's stock, with price targets set between $135.00 and $159.67, resulting in an overall rating of "Moderate Buy" from equity research analysts.

GM Advisory Group LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 68.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,973 shares of the specialty retailer's stock after selling 15,047 shares during the quarter. GM Advisory Group LLC's holdings in Alibaba Group were worth $922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BABA. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group in the 1st quarter worth approximately $26,000. Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Alibaba Group during the 1st quarter worth $31,000. Finally, Inlight Wealth Management LLC acquired a new position in Alibaba Group during the 1st quarter worth $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BABA shares. Barclays reduced their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a report on Tuesday, June 24th. Bank of America reduced their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Alibaba Group has an average rating of "Moderate Buy" and a consensus target price of $159.67.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $120.0630 on Wednesday. The firm has a fifty day moving average of $116.19 and a two-hundred day moving average of $120.74. The stock has a market capitalization of $286.33 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.79 and a beta of 0.17. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 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.

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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