Golden State Wealth Management LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Golden State Wealth Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 712 shares of the specialty retailer’s stock, valued at approximately $60,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alibaba Group by 3,180.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. grew its holdings in shares of Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the last quarter. FMR LLC increased its stake in shares of Alibaba Group by 454.2% in the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after buying an additional 2,959,954 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BABA. Robert W. Baird boosted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Citigroup lifted their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Mizuho upped their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

Alibaba Group Trading Up 7.7 %

Alibaba Group stock opened at $111.48 on Tuesday. The company has a market cap of $265.17 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 0.42 and a beta of 0.31. The firm has a 50-day moving average of $88.04 and a 200-day moving average of $89.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the company earned $1.82 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

About Alibaba Group

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.