Strong Tower Advisory Services Has $6.48 Million Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Strong Tower Advisory Services increased its holdings in Alibaba Group to $6.48 million, owning 57,111 shares after buying an additional 2,144 shares, representing 1.3% of its total portfolio.
• Analysts have mixed views on Alibaba Group, with ratings varying from a "Strong Buy" to a "Hold"; recent target price updates include a range from $190 to $200.
• As of the latest report, Alibaba Group's stock has experienced an 8.6% decline, with its market cap at $378.50 billion and a P/E ratio of 18.46.

Strong Tower Advisory Services lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,111 shares of the specialty retailer's stock after buying an additional 2,144 shares during the period. Alibaba Group comprises 1.3% of Strong Tower Advisory Services' holdings, making the stock its 26th largest position. Strong Tower Advisory Services' holdings in Alibaba Group were worth $6,477,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. 1248 Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the 1st quarter worth about $26,000. Summit Securities Group LLC boosted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of 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 last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BABA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Alibaba Group in a report on Wednesday. Barclays upped their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $167.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Finally, Susquehanna upped their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a "positive" rating in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $188.06.

Alibaba Group Stock Down 8.6%

Alibaba Group stock opened at $158.76 on Friday. The stock has a market cap of $378.50 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.05 and a beta of 0.18. 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 twelve month low of $80.06 and a twelve month high of $192.67. The company's 50-day moving average price is $146.36 and its two-hundred day moving average price is $127.53.

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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