Integrated Wealth Concepts LLC Grows Stake in Alibaba Group Holding Limited $BABA

Key Points

• Integrated Wealth Concepts LLC increased its position in Alibaba Group Holding Limited ($BABA) by 27.2% in Q1, holding 34,592 shares valued at approximately $4.57 million.
• Other large investors also significantly boosted their stakes in Alibaba, with Goldman Sachs increasing its holdings by 22.6% and Mirae Asset Global Investments growing by an astounding 3,214.5% in the same quarter.
• Brokerages remain optimistic on Alibaba, with UBS and Citigroup setting price targets of $162.00 and $187.00 respectively, reflecting a consensus rating of "Buy" on the stock.

Integrated Wealth Concepts LLC lifted its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 27.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,592 shares of the specialty retailer's stock after acquiring an additional 7,395 shares during the period. Integrated Wealth Concepts LLC's holdings in Alibaba Group were worth $4,574,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of BABA. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after buying an additional 981 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Alibaba Group by 13.0% during the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock worth $39,992,000 after buying an additional 54,342 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Alibaba Group in the fourth quarter worth $439,000. Captrust Financial Advisors increased its position in shares of Alibaba Group by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock worth $950,000 after purchasing an additional 536 shares during the period. Finally, CoreCap Advisors LLC increased its position in shares of Alibaba Group by 87.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,530 shares of the specialty retailer's stock worth $215,000 after purchasing an additional 1,178 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

BABA stock traded up $4.57 during mid-day trading on Friday, reaching $135.49. 19,166,179 shares of the company traded hands, compared to its average volume of 17,478,944. The company has a market capitalization of $323.03 billion, a P/E ratio of 16.61, a P/E/G ratio of 1.89 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. The company has a fifty day moving average price of $119.59 and a 200-day moving average price of $122.09. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent analyst reports. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Jefferies Financial Group set a $165.00 price target on Alibaba Group and gave the company a "buy" rating in a research note on Friday, August 29th. Benchmark boosted their price target on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Bank of America boosted their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Buy" and an average price target of $163.53.

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.