Maridea Wealth Management LLC Purchases New Stake in Alibaba Group Holding Limited (NYSE:BABA)

Maridea Wealth Management LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,825 shares of the specialty retailer’s stock, valued at approximately $579,000.

A number of other hedge funds have also made changes to their positions in BABA. Thrivent Financial for Lutherans purchased a new position in Alibaba Group in the third quarter valued at about $321,000. The Manufacturers Life Insurance Company acquired a new position in Alibaba Group in the 3rd quarter worth $287,000. FMR LLC grew its stake in shares of Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after acquiring an additional 2,959,954 shares in the last quarter. CreativeOne Wealth LLC acquired a new position in shares of Alibaba Group in the third quarter worth about $518,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alibaba Group by 2.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock worth $1,523,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.3 %

Alibaba Group stock opened at $132.49 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $148.43. The company has a 50-day simple moving average of $121.60 and a 200-day simple moving average of $102.45. The firm has a market capitalization of $314.80 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Benchmark raised their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Mizuho raised their price objective on shares of Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Arete Research upgraded Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus price target of $148.14.

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.