Summit Financial LLC Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Summit Financial LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.0% in the fourth quarter, Holdings Channel reports. The firm owned 6,275 shares of the specialty retailer’s stock after acquiring an additional 413 shares during the period. Summit Financial LLC’s holdings in Alibaba Group were worth $532,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BABA. D L Carlson Investment Group Inc. grew its position in Alibaba Group by 0.3% in the fourth quarter. D L Carlson Investment Group Inc. now owns 47,373 shares of the specialty retailer’s stock valued at $4,017,000 after acquiring an additional 152 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Alibaba Group by 17.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 163,573 shares of the specialty retailer’s stock worth $13,869,000 after buying an additional 23,895 shares during the period. Clearbridge Investments LLC lifted its holdings in Alibaba Group by 57.7% in the 4th quarter. Clearbridge Investments LLC now owns 191,925 shares of the specialty retailer’s stock worth $16,273,000 after buying an additional 70,234 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in Alibaba Group by 18.7% in the 4th quarter. Brandywine Global Investment Management LLC now owns 268,768 shares of the specialty retailer’s stock valued at $22,789,000 after buying an additional 42,290 shares during the last quarter. Finally, RWA Wealth Partners LLC grew its stake in shares of Alibaba Group by 3.7% during the fourth quarter. RWA Wealth Partners LLC now owns 22,422 shares of the specialty retailer’s stock valued at $1,901,000 after acquiring an additional 800 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of BABA opened at $129.44 on Friday. The firm has a fifty day moving average of $125.22 and a 200-day moving average of $103.73. The company has a market cap of $307.45 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $148.43.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BABA shares. JPMorgan Chase & Co. increased their price target on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $180.00 in a report on Monday, February 24th. Benchmark raised their price objective on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Robert W. Baird upped their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of “Buy” and an average target price of $148.14.

Alibaba Group Company 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.