Ritholtz Wealth Management Has $3.97 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Ritholtz Wealth Management raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 34.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,437 shares of the specialty retailer’s stock after buying an additional 9,657 shares during the period. Ritholtz Wealth Management’s holdings in Alibaba Group were worth $3,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group in the 2nd quarter worth approximately $25,000. GPS Wealth Strategies Group LLC boosted its position in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group in the 2nd quarter valued at $27,000. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Finally, Asset Dedication LLC boosted its holdings in shares of Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after buying an additional 400 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Truist Financial lowered their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

Alibaba Group Stock Up 0.8 %

Shares of NYSE BABA traded up $0.86 during trading on Friday, reaching $110.14. The company had a trading volume of 18,042,614 shares, compared to its average volume of 17,863,152. The stock has a market cap of $264.32 billion, a PE ratio of 28.82, a P/E/G ratio of 0.55 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $117.82. The business’s 50-day moving average is $89.88 and its 200 day moving average is $81.11.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $2.47 EPS. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share 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.