Stonehaven Wealth & Tax Solutions LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Stonehaven Wealth & Tax Solutions LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 3,070 shares of the specialty retailer’s stock, valued at approximately $260,000.

Several other hedge funds have also added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its stake in shares of Alibaba Group by 21.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock valued at $13,180,000 after acquiring an additional 27,088 shares during the last quarter. Berkshire Asset Management LLC PA purchased a new position in Alibaba Group in the 4th quarter worth approximately $911,000. Exchange Traded Concepts LLC lifted its position in Alibaba Group by 131.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock valued at $6,343,000 after purchasing an additional 42,446 shares during the last quarter. Bailard Inc. boosted its stake in shares of Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer’s stock valued at $869,000 after purchasing an additional 3,242 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Alibaba Group by 31.3% in the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer’s stock worth $1,566,000 after purchasing an additional 4,397 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BABA. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Benchmark raised their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Robert W. Baird upped their price target on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $150.36.

Alibaba Group Stock Down 1.5 %

NYSE:BABA opened at $112.31 on Wednesday. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43. The company has a market capitalization of $266.77 billion, a PE ratio of 16.23, a P/E/G ratio of 0.61 and a beta of 0.24. The firm’s 50-day moving average price is $127.13 and its 200-day moving average price is $104.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The business had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

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.