Steward Partners Investment Advisory LLC Acquires 6,785 Shares of Alibaba Group Holding Limited $BABA

Steward Partners Investment Advisory LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 16.2% in the second quarter, HoldingsChannel.com reports. The firm owned 48,567 shares of the specialty retailer’s stock after purchasing an additional 6,785 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Alibaba Group were worth $5,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DCF Advisers LLC boosted its position in shares of Alibaba Group by 0.9% during the second quarter. DCF Advisers LLC now owns 39,150 shares of the specialty retailer’s stock valued at $4,440,000 after buying an additional 350 shares during the last quarter. Insigneo Advisory Services LLC raised its position in Alibaba Group by 22.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 28,772 shares of the specialty retailer’s stock valued at $3,263,000 after buying an additional 5,354 shares during the last quarter. Discerene Group LP lifted its stake in Alibaba Group by 0.6% during the 2nd quarter. Discerene Group LP now owns 2,985,487 shares of the specialty retailer’s stock valued at $338,584,000 after acquiring an additional 18,400 shares in the last quarter. Summit Global Investments boosted its holdings in Alibaba Group by 37.1% during the 2nd quarter. Summit Global Investments now owns 7,586 shares of the specialty retailer’s stock worth $860,000 after acquiring an additional 2,051 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Alibaba Group in the 2nd quarter worth $805,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 0.4%

NYSE:BABA opened at $157.68 on Thursday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $168.51 and its 200 day moving average is $138.50. The stock has a market capitalization of $376.24 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Wednesday, September 3rd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Robert W. Baird lifted their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.89.

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.