Circle Wealth Management LLC Acquires Shares of 11,858 Alibaba Group Holding Limited (NYSE:BABA)

Circle Wealth Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,858 shares of the specialty retailer’s stock, valued at approximately $1,258,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its stake in Alibaba Group by 6.0% in the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 121 shares during the period. ICA Group Wealth Management LLC raised its stake in shares of Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Alibaba Group by 4.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after buying an additional 139 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after buying an additional 143 shares in the last quarter. Finally, Concord Wealth Partners lifted its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $87.37 on Friday. The stock has a 50-day moving average of $98.45 and a 200-day moving average of $86.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market cap of $209.05 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the company posted $1.82 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BABA has been the subject of several analyst reports. Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Bank of America upped their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays cut their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.07.

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.