Lake Hills Wealth Management LLC Has $577,000 Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Lake Hills Wealth Management LLC increased its stake in Alibaba Group by 69.5%, now holding 5,086 shares worth approximately $577,000, representing about 0.3% of its total holdings.
• Other institutional investors, like Goldman Sachs and UBS, also boosted their holdings in Alibaba, indicating increasing confidence in the stock.
• Recent analyst ratings for Alibaba reflect optimism, with several firms raising their price targets, highlighting a positive outlook for the company's future performance.

Lake Hills Wealth Management LLC lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 69.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,086 shares of the specialty retailer's stock after acquiring an additional 2,086 shares during the quarter. Alibaba Group makes up approximately 0.3% of Lake Hills Wealth Management LLC's holdings, making the stock its 28th largest holding. Lake Hills Wealth Management LLC's holdings in Alibaba Group were worth $577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its holdings in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after buying an additional 3,947,460 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock worth $728,633,000 after buying an additional 1,045,789 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after purchasing an additional 752,275 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BABA shares. Benchmark increased 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. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. Jefferies Financial Group raised their price objective on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Finally, Citigroup raised their price objective on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $167.40.

Alibaba Group Trading Up 2.3%

Shares of NYSE:BABA opened at $165.98 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $167.32. The business has a 50 day moving average of $126.68 and a 200-day moving average of $123.16. The stock has a market cap of $395.71 billion, a PE ratio of 19.30, a P/E/G ratio of 1.99 and a beta of 0.11.

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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