TRUE Private Wealth Advisors Increases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

TRUE Private Wealth Advisors grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,239 shares of the specialty retailer’s stock after purchasing an additional 116 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Alibaba Group were worth $275,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its position in 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 buying an additional 27,088 shares during the period. Berkshire Asset Management LLC PA acquired a new position in Alibaba Group during the 4th quarter worth $911,000. Exchange Traded Concepts LLC increased its holdings in Alibaba Group by 131.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock worth $6,343,000 after purchasing an additional 42,446 shares during the period. Bailard Inc. raised its position in Alibaba Group by 46.3% in the 4th 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 in the last quarter. Finally, Park Avenue Securities LLC grew its position in shares of Alibaba Group by 31.3% during the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer’s stock worth $1,566,000 after buying an additional 4,397 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 5.8 %

Shares of Alibaba Group stock opened at $105.13 on Thursday. The company’s fifty day moving average is $126.38 and its two-hundred day moving average is $104.51. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $249.72 billion, a P/E ratio of 15.19, a PEG ratio of 0.61 and a beta of 0.24.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on BABA. Benchmark raised their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 21st. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Mizuho raised their price target on Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Barclays upped 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. raised their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alibaba Group currently has a consensus rating of “Buy” and a consensus target price of $150.36.

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.