Trueblood Wealth Management LLC Invests $273,000 in Alibaba Group Holding Limited $BABA

Key Points

• Trueblood Wealth Management LLC invested $273,000 in Alibaba Group by acquiring 2,407 shares in the second quarter.
• Several institutional investors have significantly increased their stakes in Alibaba, with GAMMA Investing LLC boosting its position by 13,483.0%, now holding 19,967 shares valued at $2.64 million.
• Wall Street analysts are optimistic about Alibaba's prospects, with multiple firms raising their price targets, including JPMorgan Chase & Co. which increased its target from $170 to $245.

Trueblood Wealth Management LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,407 shares of the specialty retailer's stock, valued at approximately $273,000.

Several other large investors have also recently modified their holdings of BABA. Brighton Jones LLC increased its stake in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Alibaba Group by 13,483.0% in the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock valued at $2,640,000 after acquiring an additional 19,820 shares during the period. UMB Bank n.a. boosted its position in shares of Alibaba Group by 33.4% in the first quarter. UMB Bank n.a. now owns 1,207 shares of the specialty retailer's stock valued at $160,000 after acquiring an additional 302 shares during the period. Portside Wealth Group LLC boosted its position in shares of Alibaba Group by 17.2% in the first quarter. Portside Wealth Group LLC now owns 3,522 shares of the specialty retailer's stock valued at $466,000 after acquiring an additional 518 shares during the period. Finally, CHICAGO TRUST Co NA bought a new position in shares of Alibaba Group in the first quarter valued at approximately $321,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 3.2%

Shares of BABA opened at $181.21 on Wednesday. The firm has a market cap of $432.02 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.21 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The firm has a 50 day moving average price of $143.19 and a 200-day moving average price of $126.71.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BABA shares. Jefferies Financial Group raised their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the company a "buy" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. raised their price objective on shares of Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. CLSA lifted their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Susquehanna lifted their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a "positive" rating in a research report on Thursday, September 18th. Finally, Citigroup reiterated a "buy" rating on shares of Alibaba Group in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $184.19.

About Alibaba Group

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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