Strs Ohio Acquires New Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Strs Ohio has acquired a new stake in Alibaba Group, purchasing 479,715 shares valued at approximately $63.4 million during the first quarter.
• Institutional investors currently hold 13.47% of Alibaba's stock, reflecting increased interest from other hedge funds in recent months.
• Analysts have raised their target prices for Alibaba Group, with Citigroup setting a new price target of $187.00 and a consensus rating of "Buy" across multiple firms.

Strs Ohio acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 479,715 shares of the specialty retailer's stock, valued at approximately $63,433,000.

Other hedge funds have also recently bought and sold shares of the company. Turn8 Private Wealth Inc. bought a new stake in shares of Alibaba Group during the 1st quarter worth about $727,000. Advisors Capital Management LLC lifted its stake in shares of Alibaba Group by 20.7% in the first quarter. Advisors Capital Management LLC now owns 7,793 shares of the specialty retailer's stock worth $1,030,000 after buying an additional 1,338 shares during the last quarter. Focus Partners Wealth lifted its stake in shares of Alibaba Group by 23.8% in the first quarter. Focus Partners Wealth now owns 17,993 shares of the specialty retailer's stock worth $2,379,000 after buying an additional 3,456 shares during the last quarter. Integrity Alliance LLC. acquired a new position in Alibaba Group during the 1st quarter valued at $724,000. Finally, Ransom Advisory Ltd bought a new stake in shares of Alibaba Group in the 1st quarter worth about $26,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 2.2%

NYSE BABA opened at $143.86 on Thursday. 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 Holding Limited has a 12 month low of $80.06 and a 12 month high of $148.43. The stock has a market cap of $342.99 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.05 and a beta of 0.11. The stock's fifty day moving average price is $121.47 and its 200-day moving average price is $122.30.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BABA. Citigroup upped their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Bank of America boosted their target price on shares of Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Arete Research raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $167.40.

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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