Strong Tower Advisory Services Acquires 2,144 Shares of Alibaba Group Holding Limited $BABA

Strong Tower Advisory Services lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,111 shares of the specialty retailer’s stock after purchasing an additional 2,144 shares during the quarter. Alibaba Group accounts for 1.3% of Strong Tower Advisory Services’ holdings, making the stock its 26th largest position. Strong Tower Advisory Services’ holdings in Alibaba Group were worth $6,477,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC increased its holdings in shares of Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the period. Finally, Temasek Holdings Private Ltd boosted its position in shares of Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after acquiring an additional 1,045,789 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $158.76 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $378.50 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.05 and a beta of 0.18. The company’s 50 day moving average price is $146.36 and its two-hundred day moving average price is $127.53.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BABA. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Sanford C. Bernstein lifted their price objective on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group reissued a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Mizuho lifted their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $188.06.

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.