Alibaba Group Holding Limited (NYSE:BABA) Position Boosted by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.8% during the 3rd quarter, Holdings Channel reports. The fund owned 3,635 shares of the specialty retailer’s stock after purchasing an additional 200 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Alibaba Group were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC increased its position in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Alibaba Group in the 2nd quarter worth $27,000. Concord Wealth Partners lifted its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 155 shares during the period. Finally, Highline Wealth Partners LLC bought a new position in Alibaba Group during the third quarter valued at about $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BABA. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Bank of America lifted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial reduced their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Performance

NYSE BABA opened at $87.37 on Monday. The company’s fifty day moving average is $98.45 and its two-hundred day moving average is $86.11. The firm has a market capitalization of $209.05 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.43 and a beta of 0.35. 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 52-week low of $66.63 and a 52-week high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. Equities research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

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.