Quantum Private Wealth LLC Has $2.59 Million Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Quantum Private Wealth LLC lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% during the third quarter, HoldingsChannel.com reports. The firm owned 24,398 shares of the specialty retailer’s stock after selling 1,170 shares during the quarter. Alibaba Group makes up about 0.9% of Quantum Private Wealth LLC’s holdings, making the stock its 18th biggest holding. Quantum Private Wealth LLC’s holdings in Alibaba Group were worth $2,589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BABA. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the second quarter worth $25,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Alibaba Group in the second quarter worth about $27,000. Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group in the third quarter worth about $36,000. Institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a report on Friday, July 26th. Bank of America boosted their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays upped their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.13.

Alibaba Group Stock Performance

Alibaba Group stock opened at $95.74 on Friday. The stock’s 50 day moving average price is $96.65 and its 200 day moving average price is $84.70. The firm has a market capitalization of $229.30 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $117.82.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for 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 revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 EPS. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 8.08 EPS 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.