Kingsview Wealth Management LLC Increases Position in Alibaba Group Holding Limited (NYSE:BABA)

Kingsview Wealth Management LLC boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 60.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,496 shares of the specialty retailer’s stock after buying an additional 2,438 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Alibaba Group were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC boosted its stake in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after buying an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the second quarter worth $27,000. Concord Wealth Partners lifted its stake in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Alibaba Group during the third quarter worth about $36,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BABA shares. Barclays decreased their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Susquehanna cut their price target on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a report on Monday, August 19th. Finally, Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Trading Up 1.7 %

NYSE:BABA opened at $86.60 on Thursday. The firm has a market cap of $207.21 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. The company’s 50 day moving average is $98.51 and its 200-day moving average is $86.01. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the previous year, the business posted $1.82 earnings per share. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

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.