Great Lakes Advisors LLC Raises Position in Alibaba Group Holding Limited $BABA

Key Points

• Great Lakes Advisors LLC increased its stake in Alibaba Group by 298.6% during the first quarter, owning 55,347 shares valued at approximately $7.3 million.
• Shares of Alibaba Group opened at $147.15, experiencing a 4.2% increase, and have a market capitalization of $350.84 billion.
• A number of analysts upgraded their price targets for Alibaba, with Robert W. Baird raising theirs from $142.00 to $153.00, maintaining an "outperform" rating.

Great Lakes Advisors LLC boosted its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 298.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,347 shares of the specialty retailer's stock after buying an additional 41,461 shares during the quarter. Great Lakes Advisors LLC's holdings in Alibaba Group were worth $7,319,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC raised its holdings in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Up 4.2%

Shares of NYSE BABA opened at $147.15 on Wednesday. The company has a 50 day simple moving average of $120.81 and a 200-day simple moving average of $122.15. The company has a market capitalization of $350.84 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.97 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $148.43.

Analyst Upgrades and Downgrades

A number of analysts have commented on BABA shares. Robert W. Baird increased their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Mizuho increased their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target for the company in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of "Buy" and an average target price of $166.53.

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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