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

Axxcess Wealth Management LLC boosted its stake in Alibaba Group Holding Limited (NYSE:BABAGet Rating) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,734 shares of the specialty retailer’s stock after purchasing an additional 333 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Alibaba Group were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Alibaba Group in the second quarter valued at approximately $3,018,000. Van Hulzen Asset Management LLC purchased a new stake in Alibaba Group in the first quarter valued at approximately $244,000. Alken Asset Management Ltd. purchased a new stake in Alibaba Group in the first quarter valued at approximately $70,000. 180 Wealth Advisors LLC raised its stake in shares of Alibaba Group by 6.4% during the second quarter. 180 Wealth Advisors LLC now owns 6,057 shares of the specialty retailer’s stock worth $703,000 after acquiring an additional 363 shares in the last quarter. Finally, Cryder Capital Partners LLP raised its stake in shares of Alibaba Group by 8.7% during the second quarter. Cryder Capital Partners LLP now owns 1,206,154 shares of the specialty retailer’s stock worth $137,116,000 after acquiring an additional 96,332 shares in the last quarter. 14.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on BABA shares. Citigroup decreased their price target on shares of Alibaba Group from $146.00 to $144.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Truist Financial decreased their price target on shares of Alibaba Group from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. HSBC decreased their price target on shares of Alibaba Group from $132.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Mizuho decreased their price target on shares of Alibaba Group from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Finally, UBS Group cut their target price on shares of Alibaba Group from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, November 18th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Alibaba Group Stock Performance

Shares of BABA stock opened at $78.50 on Thursday. Alibaba Group Holding Limited has a 12 month low of $58.01 and a 12 month high of $138.70. The stock has a market cap of $207.88 billion, a PE ratio of 196.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $75.61 and its 200-day moving average price is $90.50.

Alibaba Group Company Profile

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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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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