Laidlaw Wealth Management LLC Buys Shares of 11,035 Alibaba Group Holding Limited (NYSE:BABA)

Laidlaw Wealth Management LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,035 shares of the specialty retailer’s stock, valued at approximately $795,000.

Several other hedge funds have also recently modified their holdings of the business. First Command Advisory Services Inc. bought a new position in Alibaba Group in the second quarter worth approximately $25,000. GPS Wealth Strategies Group LLC raised its position in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Alibaba Group during the 4th quarter worth $26,000. Register Financial Advisors LLC bought a new stake in Alibaba Group during the first quarter valued at about $31,000. Finally, ICA Group Wealth Management LLC purchased a new position in Alibaba Group in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on BABA. Barclays decreased their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Robert W. Baird raised their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Citigroup cut their price target on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Jefferies Financial Group reiterated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Finally, Bank of America boosted their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Stock Up 2.9 %

Shares of NYSE:BABA opened at $83.34 on Tuesday. The business has a fifty day moving average of $78.17 and a two-hundred day moving average of $76.71. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a market cap of $211.48 billion, a P/E ratio of 19.43, a PEG ratio of 0.42 and a beta of 0.32. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $96.68.

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