Integrity Wealth Advisors Inc. Has $579,000 Stock Holdings in Alibaba Group Holding Limited $BABA

Integrity Wealth Advisors Inc. raised its position in Alibaba Group Holding Limited (NYSE:BABA) by 43.7% during the 1st quarter, HoldingsChannel reports. The fund owned 4,376 shares of the specialty retailer’s stock after buying an additional 1,330 shares during the quarter. Integrity Wealth Advisors Inc.’s holdings in Alibaba Group were worth $579,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in Alibaba Group in the 1st quarter valued at approximately $31,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 8.1%

Shares of Alibaba Group stock opened at $155.55 on Friday. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $156.85. The stock has a market cap of $370.87 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.01 and a beta of 0.11. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $122.41 and its 200-day moving average is $122.48.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BABA shares. Mizuho boosted their target price on Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Barclays boosted their target price on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday. Robert W. Baird boosted their target price on Alibaba Group from $142.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Zacks Research upgraded Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Benchmark upped their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $167.40.

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.