Perigon Wealth Management LLC Acquires 341 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

Perigon Wealth Management LLC raised its holdings in Alibaba Group Holding Ltd (NYSE:BABA) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,267 shares of the specialty retailer’s stock after buying an additional 341 shares during the period. Perigon Wealth Management LLC’s holdings in Alibaba Group were worth $554,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Farmers National Bank bought a new position in shares of Alibaba Group during the first quarter worth approximately $25,000. Manchester Capital Management LLC increased its stake in Alibaba Group by 171.4% during the 1st quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 96 shares during the period. Lee Financial Co increased its stake in Alibaba Group by 194.6% during the 2nd quarter. Lee Financial Co now owns 165 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 109 shares during the period. Farmers & Merchants Investments Inc. increased its stake in Alibaba Group by 100.0% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 200 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 100 shares during the period. Finally, Coastal Capital Group Inc. bought a new position in Alibaba Group during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 42.12% of the company’s stock.

A number of research firms have commented on BABA. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Friday, July 12th. Macquarie set a $226.00 price objective on Alibaba Group and gave the stock a “buy” rating in a research note on Wednesday, June 19th. Jefferies Financial Group began coverage on Alibaba Group in a research note on Monday, August 5th. They set a “buy” rating and a $216.00 price objective on the stock. Barclays raised their price objective on Alibaba Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, TH Capital raised their price objective on Alibaba Group from $180.00 to $220.00 in a research note on Monday, May 13th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $218.96.



Shares of BABA stock traded down $1.08 during trading hours on Tuesday, reaching $177.20. The company’s stock had a trading volume of 4,446,295 shares, compared to its average volume of 20,564,710. The firm’s 50 day simple moving average is $169.83 and its 200-day simple moving average is $172.79. The company has a market capitalization of $444.25 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 1.57 and a beta of 2.30. Alibaba Group Holding Ltd has a fifty-two week low of $129.77 and a fifty-two week high of $195.72. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.18.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.32. The firm had revenue of $114.92 billion for the quarter, compared to the consensus estimate of $111.65 billion. Alibaba Group had a return on equity of 14.36% and a net margin of 24.40%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Sell-side analysts predict that Alibaba Group Holding Ltd will post 5.04 earnings per share for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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