Udine Wealth Management Inc. Purchases 570 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Udine Wealth Management Inc. grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,061 shares of the specialty retailer’s stock after buying an additional 570 shares during the quarter. Alibaba Group makes up about 1.7% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest position. Udine Wealth Management Inc.’s holdings in Alibaba Group were worth $2,447,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BABA. Stephens Inc. AR grew its stake in Alibaba Group by 16.1% during the fourth quarter. Stephens Inc. AR now owns 11,452 shares of the specialty retailer’s stock worth $888,000 after buying an additional 1,586 shares during the last quarter. Strategic Global Advisors LLC lifted its position in shares of Alibaba Group by 109.2% during the fourth quarter. Strategic Global Advisors LLC now owns 8,424 shares of the specialty retailer’s stock worth $653,000 after purchasing an additional 4,398 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Alibaba Group during the fourth quarter worth approximately $7,770,000. Greystone Financial Group LLC lifted its position in shares of Alibaba Group by 21.4% during the fourth quarter. Greystone Financial Group LLC now owns 2,941 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 519 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alibaba Group during the fourth quarter worth approximately $116,000. 13.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial reduced 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 report on Friday, August 16th. Susquehanna reduced their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Robert W. Baird increased their price objective on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $111.12.

Alibaba Group Stock Down 6.6 %

Shares of BABA stock opened at $109.73 on Wednesday. The firm has a fifty day moving average of $87.38 and a 200-day moving average of $80.18. 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 company has a market capitalization of $278.44 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The business had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 earnings per share. As a group, equities research analysts predict 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.