Sunbelt Securities Inc. Raises Stake in Alibaba Group Holding Limited (NYSE:BABA)

Sunbelt Securities Inc. lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,464 shares of the specialty retailer’s stock after buying an additional 767 shares during the quarter. Sunbelt Securities Inc.’s holdings in Alibaba Group were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. ICA Group Wealth Management LLC lifted its position in shares of Alibaba Group by 14.6% during the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Alibaba Group by 11.2% during the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after buying an additional 154 shares during the last quarter. EPIQ Capital Group LLC lifted its position in shares of Alibaba Group by 0.3% during the 2nd quarter. EPIQ Capital Group LLC now owns 46,091 shares of the specialty retailer’s stock worth $3,396,000 after buying an additional 157 shares during the last quarter. Evolution Wealth Advisors LLC lifted its position in shares of Alibaba Group by 4.1% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after buying an additional 158 shares during the last quarter. Finally, WNY Asset Management LLC lifted its position in shares of Alibaba Group by 2.8% during the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after buying an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Bank of America upped their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Finally, Sanford C. Bernstein upped 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. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Performance

NYSE:BABA opened at $106.14 on Tuesday. 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 fifty-two week low of $66.63 and a fifty-two week high of $112.22. The stock has a market cap of $269.33 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33. The firm’s fifty day simple moving average is $83.57 and its 200-day simple moving average is $78.74.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the prior year, the company posted $2.47 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

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.