Whitaker Myers Wealth Managers LTD. Takes Position in Alibaba Group Holding Limited $BABA

by · The Markets Daily

Whitaker Myers Wealth Managers LTD. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,868 shares of the specialty retailer’s stock, valued at approximately $870,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TrueWealth Advisors LLC increased its position in Alibaba Group by 36.5% in the 3rd quarter. TrueWealth Advisors LLC now owns 4,795 shares of the specialty retailer’s stock valued at $857,000 after acquiring an additional 1,283 shares in the last quarter. Financial Management Professionals Inc. grew its stake in shares of Alibaba Group by 79.0% during the third quarter. Financial Management Professionals Inc. now owns 417 shares of the specialty retailer’s stock valued at $75,000 after purchasing an additional 184 shares during the last quarter. BSW Wealth Partners increased its holdings in shares of Alibaba Group by 22.7% in the third quarter. BSW Wealth Partners now owns 2,191 shares of the specialty retailer’s stock valued at $392,000 after purchasing an additional 406 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new stake in shares of Alibaba Group in the third quarter valued at approximately $209,000. Finally, Johnson & White Wealth Management LLC bought a new position in Alibaba Group in the 3rd quarter worth approximately $235,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 0.8%

NYSE BABA opened at $150.09 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The company has a market capitalization of $358.12 billion, a PE ratio of 20.73, a P/E/G ratio of 2.33 and a beta of 0.33. The stock has a 50-day simple moving average of $160.67 and a 200 day simple moving average of $143.16.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent research reports. Barclays increased their price objective on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Nomura lifted their price objective on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Sanford C. Bernstein dropped their price objective on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Finally, UBS Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Seventeen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $194.00.

View Our Latest Report on Alibaba Group

About Alibaba Group

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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