Somerset Trust Co Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Somerset Trust Co has made a $579,000 investment in 5,101 shares of Alibaba Group Holding Limited during the second quarter.
• Several institutional investors, including TrueWealth Advisors and Garde Capital, have also increased their positions in Alibaba, reflecting growing investor confidence.
• Analysts have upgraded Alibaba's stock ratings, with Citigroup raising its price target from $148 to $187, indicating a positive outlook for the company's future performance.

Somerset Trust Co purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,101 shares of the specialty retailer's stock, valued at approximately $579,000.

Several other institutional investors also recently made changes to their positions in the stock. Accent Capital Management LLC raised its holdings in shares of Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after purchasing an additional 82 shares during the period. Greenleaf Trust increased its position in shares of Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares in the last quarter. Marcum Wealth LLC lifted its holdings in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Alibaba Group by 0.5% during the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares in the last quarter. Finally, Institute for Wealth Management LLC. boosted its position in shares of Alibaba Group by 1.1% in the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA stock traded down $0.42 during mid-day trading on Friday, reaching $155.02. The company had a trading volume of 20,865,680 shares, compared to its average volume of 21,246,096. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $156.85. The stock has a market capitalization of $369.57 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.90 and a beta of 0.11. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock's 50-day simple moving average is $123.33 and its two-hundred day simple moving average is $122.41.

Analyst Ratings Changes

BABA has been the subject of a number of analyst reports. Barclays upped their price target on Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Citigroup lifted their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Arete raised shares of 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. Bank of America increased their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Buy" and a consensus price target of $167.40.

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.