JTC Employer Solutions Trustee Ltd Boosts Stake in Alibaba Group Holding Limited (NYSE:BABA)

JTC Employer Solutions Trustee Ltd raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 82.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,986 shares of the specialty retailer’s stock after purchasing an additional 4,965 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Alibaba Group were worth $1,167,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BABA. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at $25,000. GPS Wealth Strategies Group LLC grew its stake in Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group during the 2nd quarter worth $27,000. Register Financial Advisors LLC acquired a new position in Alibaba Group during the 1st quarter worth $31,000. Finally, Asset Dedication LLC grew its stake in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Up 2.3 %

Alibaba Group stock opened at $102.41 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $259.87 billion, a P/E ratio of 23.87, a PEG ratio of 0.55 and a beta of 0.35. The stock has a 50-day simple moving average of $92.30 and a 200-day simple moving average of $82.17.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Bank of America boosted their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays boosted their target price on Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research note on Tuesday. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Finally, Robert W. Baird upped their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.63.

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.