Ridgewood Investments LLC Grows Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Ridgewood Investments LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,258 shares of the specialty retailer’s stock after purchasing an additional 1,555 shares during the period. Ridgewood Investments LLC’s holdings in Alibaba Group were worth $1,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BABA. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners boosted its holdings in Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the third quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Alibaba Group in the second quarter worth about $38,000. Finally, Assetmark Inc. boosted its holdings in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 3.5 %

BABA stock traded down $2.92 during midday trading on Friday, hitting $80.77. The company’s stock had a trading volume of 7,587,010 shares, compared to its average volume of 10,696,748. The firm has a market capitalization of $192.47 billion, a P/E ratio of 16.38, a PEG ratio of 0.44 and a beta of 0.30. The firm has a 50-day simple moving average of $87.93 and a 200-day simple moving average of $87.31. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BABA. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Bank of America boosted their price objective on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Finally, Mizuho raised their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target 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.