NewEdge Wealth LLC Acquires 8,879 Shares of Alibaba Group Holding Limited $BABA

Key Points

• NewEdge Wealth LLC increased its Alibaba stake by 19.7% in the first quarter, buying 8,879 additional shares and bringing its total holding to 53,957 shares valued at about $6.77 million.
• Wall Street sentiment remains constructive, with analysts assigning Alibaba a consensus “Moderate Buy” rating and an average price target of $186.90, even as some firms trimmed or revised their targets.
• Alibaba shares were down 2.1% on the day of the report, while the company continued to face mixed signals from strong AI-related developments and ongoing securities-class-action investigations.

NewEdge Wealth LLC lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 19.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 53,957 shares of the specialty retailer's stock after purchasing an additional 8,879 shares during the period. NewEdge Wealth LLC's holdings in Alibaba Group were worth $6,769,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BABA. Hoey Investments Inc. lifted its holdings in Alibaba Group by 95.2% during the first quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer's stock worth $26,000 after buying an additional 100 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Alibaba Group in the 3rd quarter valued at $37,000. Costello Asset Management INC purchased a new position in shares of Alibaba Group in the 4th quarter valued at $34,000. Palladiem LLC bought a new position in shares of Alibaba Group in the 4th quarter worth $38,000. Finally, Key Financial Inc raised its position in shares of Alibaba Group by 316.9% in the 4th quarter. Key Financial Inc now owns 271 shares of the specialty retailer's stock worth $40,000 after acquiring an additional 206 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the topic of a number of recent research reports. Mizuho raised their price objective on Alibaba Group from $190.00 to $195.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Thursday, May 14th. HSBC set a $170.00 price target on shares of Alibaba Group in a research report on Thursday, July 9th. Susquehanna lifted their price objective on shares of Alibaba Group from $170.00 to $185.00 and gave the stock a "positive" rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Alibaba Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.90.

Alibaba Group Trading Down 2.1%

Shares of NYSE:BABA opened at $114.09 on Friday. The business's 50-day moving average is $114.86 and its 200 day moving average is $134.23. Alibaba Group Holding Limited has a 1 year low of $91.99 and a 1 year high of $192.67. The firm has a market capitalization of $273.49 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.15 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The specialty retailer reported $0.01 earnings per share for the quarter. Alibaba Group had a return on equity of 4.76% and a net margin of 10.31%.The business had revenue of $35.30 billion during the quarter. On average, research analysts predict that Alibaba Group Holding Limited will post 6.28 earnings per share for the current fiscal year.

Alibaba Group Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 11th were paid a $1.05 dividend. The ex-dividend date was Thursday, June 11th. This represents a yield of 93.0%. Alibaba Group's dividend payout ratio (DPR) is 16.91%.

Trending Headlines about Alibaba Group

Here are the key news stories impacting Alibaba Group this week:

• Positive Sentiment: Alibaba’s AI efforts got another boost after a unit said its “5-in-1” AI system can give robots a unified brain, body, and limbs, reinforcing the company’s push into next-generation robotics and applied AI. Article
• Positive Sentiment: Investor sentiment may also be supported by news that Alibaba’s Qwen model will power Apple Intelligence features in China, a meaningful commercialization milestone for its AI platform. Article
• Positive Sentiment: Analysts and market commentators continue to highlight Alibaba’s steady AI progress, suggesting the company is building credibility as a competitive AI player. Article
• Neutral Sentiment: Alibaba-backed AGTech signed a technical services agreement to build a trading platform for the Hong Kong Gold Exchange, a business-development update with limited direct near-term impact on BABA. Article
• Negative Sentiment: Multiple law firms launched or expanded securities-class-action investigations into Alibaba, alleging possible misleading disclosures, which can add legal uncertainty and pressure the shares. Article
• Negative Sentiment: Separate investor alerts from Rosen and Pomerantz may keep litigation concerns in focus and contribute to the stock’s underperformance versus the broader market. Article

Insider Buying and Selling

In other Alibaba Group news, General Counsel Siying Yu sold 6,772 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $12.10, for a total transaction of $81,941.20. Following the sale, the general counsel owned 607,234 shares of the company's stock, valued at approximately $7,347,531.40. The trade was a 1.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hong Xu sold 175,054 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $12.15, for a total transaction of $2,126,906.10. Following the transaction, the chief financial officer owned 280,496 shares in the company, valued at $3,408,026.40. The trade was a 38.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 920,303 shares of company stock worth $70,796,370 over the last ninety days. Company insiders own 12.50% of the company's stock.

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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