SOA Wealth Advisors LLC. Has $6.17 Million Stock Holdings in Alibaba Group Holding Limited $BABA

Key Points

• SOA Wealth Advisors LLC significantly increased its holdings in Alibaba Group by 6,545.2% during Q2, now owning 54,424 shares valued at $6.17 million.
• Several institutional investors have recently increased their stakes in Alibaba, with 13.47% of the stock now owned by these entities.
• Analysts generally maintain a "Buy" rating for Alibaba, with a consensus price target of $176.06 for the stock.

SOA Wealth Advisors LLC. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6,545.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,424 shares of the specialty retailer's stock after purchasing an additional 53,605 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Alibaba Group were worth $6,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its stake 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 valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. Susquehanna upped their price target on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research note on Thursday, September 18th. Citigroup reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. UBS Group reissued a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Finally, Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $176.06.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $178.70 on Wednesday. The stock has a fifty day simple moving average of $136.73 and a two-hundred day simple moving average of $125.16. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $182.15. The firm has a market cap of $426.03 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.11. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

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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