Ropes Wealth Advisors LLC Purchases 625 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

Ropes Wealth Advisors LLC raised its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 125.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,125 shares of the specialty retailer’s stock after acquiring an additional 625 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Alibaba Group were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farmers National Bank acquired a new stake in Alibaba Group in the 1st quarter valued at about $25,000. Manchester Capital Management LLC increased its position in Alibaba Group by 171.4% in the 1st quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Lee Financial Co increased its position in Alibaba Group by 194.6% in the 2nd quarter. Lee Financial Co now owns 165 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 109 shares in the last quarter. Truvestments Capital LLC acquired a new stake in Alibaba Group in the 1st quarter valued at about $34,000. Finally, Farmers & Merchants Investments Inc. increased its position in Alibaba Group by 100.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 200 shares of the specialty retailer’s stock valued at $34,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Several equities research analysts have weighed in on BABA shares. Mizuho raised their price objective on shares of Alibaba Group from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Benchmark restated a “buy” rating and issued a $220.00 price objective (up previously from $205.00) on shares of Alibaba Group in a research report on Thursday, May 16th. Loop Capital assumed coverage on shares of Alibaba Group in a research report on Monday, June 3rd. They issued a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and set a $220.00 price target on shares of Alibaba Group in a research report on Friday, May 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $240.00 price target (up previously from $210.00) on shares of Alibaba Group in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $218.48.

NYSE BABA traded up $0.35 during trading on Wednesday, reaching $159.66. 7,890,038 shares of the stock traded hands, compared to its average volume of 16,640,510. The company has a market capitalization of $404.86 billion, a price-to-earnings ratio of 44.47, a price-to-earnings-growth ratio of 1.43 and a beta of 2.30. The firm’s 50-day moving average is $169.58. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18. Alibaba Group Holding Ltd has a fifty-two week low of $129.77 and a fifty-two week high of $195.72.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $7.82. The firm had revenue of $93.50 billion during the quarter, compared to analysts’ expectations of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.73 earnings per share. As a group, equities analysts anticipate that Alibaba Group Holding Ltd will post 5.04 EPS for the current fiscal year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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