QRG Capital Management Inc. Purchases 1,801 Shares of Alibaba Group Holding Limited $BABA

QRG Capital Management Inc. grew its position in Alibaba Group Holding Limited (NYSE:BABA) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,143 shares of the specialty retailer’s stock after acquiring an additional 1,801 shares during the period. QRG Capital Management Inc.’s holdings in Alibaba Group were worth $5,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Accent Capital Management LLC lifted its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after buying an additional 82 shares during the last quarter. Greenleaf Trust raised its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after purchasing an additional 85 shares in the last quarter. Principal Securities Inc. raised its stake in Alibaba Group by 0.5% in the 1st 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. Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after purchasing an additional 93 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Alibaba Group by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.7%

Shares of NYSE BABA opened at $187.94 on Monday. 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 52-week low of $80.06 and a 52-week high of $192.67. The company’s 50 day moving average price is $140.65 and its 200-day moving average price is $125.96. The company has a market capitalization of $448.06 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.18.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Bank of America boosted their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $181.88.

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.