Sound Income Strategies LLC Buys 2,394 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Sound Income Strategies LLC boosted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 180.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,723 shares of the specialty retailer’s stock after purchasing an additional 2,394 shares during the period. Sound Income Strategies LLC’s holdings in Alibaba Group were worth $316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its stake in Alibaba Group by 1,392.6% in the 3rd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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. raised its position in shares of Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares during the period. FMR LLC lifted its stake in shares of Alibaba Group by 454.2% during the 3rd 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 boosted its holdings in Alibaba Group by 9,205.2% in 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 during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BABA. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Mizuho raised their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com cut Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Robert W. Baird raised their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Stock Performance

NYSE:BABA opened at $89.13 on Friday. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average of $85.53 and a 200 day moving average of $87.99. The company has a market capitalization of $212.29 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.37 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The company 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal 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.