Midwest Trust Co Invests $453,000 in Alibaba Group Holding Limited $BABA

Midwest Trust Co purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,991 shares of the specialty retailer’s stock, valued at approximately $453,000.

Other hedge funds have also added to or reduced their stakes in the company. Rathbones Group PLC grew its stake in Alibaba Group by 14.6% in the second quarter. Rathbones Group PLC now owns 61,573 shares of the specialty retailer’s stock valued at $6,983,000 after acquiring an additional 7,838 shares during the period. Aviva PLC lifted its holdings in shares of Alibaba Group by 3.2% during the 2nd quarter. Aviva PLC now owns 391,170 shares of the specialty retailer’s stock valued at $44,363,000 after purchasing an additional 12,046 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Alibaba Group by 13.8% during the 2nd quarter. Prospera Financial Services Inc now owns 10,702 shares of the specialty retailer’s stock valued at $1,215,000 after purchasing an additional 1,301 shares in the last quarter. RWA Wealth Partners LLC grew its position in shares of Alibaba Group by 16.0% in the 2nd quarter. RWA Wealth Partners LLC now owns 26,580 shares of the specialty retailer’s stock valued at $3,014,000 after purchasing an additional 3,658 shares during the period. Finally, Quadrant Private Wealth Management LLC increased its stake in Alibaba Group by 1.0% during the 2nd quarter. Quadrant Private Wealth Management LLC now owns 10,850 shares of the specialty retailer’s stock worth $1,252,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Sanford C. Bernstein lifted their price target on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Jefferies Financial Group boosted 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. Mizuho set a $195.00 target price on shares of Alibaba Group in a research note on Wednesday, October 22nd. Nomura lifted their price target on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Susquehanna boosted their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Performance

BABA opened at $157.99 on Thursday. The business’s 50-day simple moving average is $166.95 and its 200 day simple moving average is $136.11. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $376.97 billion, a PE ratio of 18.37, a PEG ratio of 2.40 and a beta of 0.19.

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.