ICA Group Wealth Management LLC Boosts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

ICA Group Wealth Management LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,004 shares of the specialty retailer’s stock after acquiring an additional 128 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Alibaba Group were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BABA. Retirement Planning Co of New England Inc. grew its stake in shares of Alibaba Group by 6.2% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 8,474 shares of the specialty retailer’s stock worth $610,000 after acquiring an additional 492 shares during the period. Envestnet Asset Management Inc. boosted its position in Alibaba Group by 8.4% during the second quarter. Envestnet Asset Management Inc. now owns 348,934 shares of the specialty retailer’s stock worth $25,123,000 after purchasing an additional 27,058 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Alibaba Group by 38.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 44,148 shares of the specialty retailer’s stock worth $3,179,000 after purchasing an additional 12,264 shares in the last quarter. Stolper Co raised its position in shares of Alibaba Group by 12.2% in the second quarter. Stolper Co now owns 19,816 shares of the specialty retailer’s stock valued at $1,427,000 after purchasing an additional 2,159 shares during the period. Finally, Wealthspire Advisors LLC lifted its stake in shares of Alibaba Group by 6.1% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,971 shares of the specialty retailer’s stock valued at $214,000 after buying an additional 171 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BABA shares. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Truist Financial decreased their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research note on Friday, August 23rd. Bank of America upped their price target on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised their price objective 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Down 0.9 %

Shares of NYSE:BABA opened at $84.69 on Monday. The firm has a market capitalization of $214.90 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $90.46. The firm has a fifty day moving average of $79.86 and a 200 day moving average of $77.21.

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