Venturi Wealth Management LLC Grows Position in Alibaba Group Holding Limited (NYSE:BABA)

Venturi Wealth Management LLC grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 6.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,152 shares of the specialty retailer’s stock after buying an additional 121 shares during the quarter. Venturi Wealth Management LLC’s holdings in Alibaba Group were worth $228,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BABA. CANADA LIFE ASSURANCE Co boosted its holdings in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the period. Generate Investment Management Ltd bought a new position in shares of Alibaba Group in the third quarter worth about $12,656,000. SRN Advisors LLC grew its position in shares of Alibaba Group by 76.7% during the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Alibaba Group by 6.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after purchasing an additional 50,000 shares during the period. Finally, United Advisor Group LLC purchased a new position in Alibaba Group in the 3rd quarter worth approximately $631,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Up 0.2 %

BABA stock opened at $91.99 on Thursday. The firm’s fifty day simple moving average is $97.68 and its two-hundred day simple moving average is $85.39. The stock has a market capitalization of $220.31 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial reduced their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a report on Monday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a report on Friday, July 26th. Finally, Susquehanna dropped their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $114.53.

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.