Laidlaw Wealth Management LLC Has $898,000 Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Laidlaw Wealth Management LLC cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,585 shares of the specialty retailer’s stock after selling 279 shares during the period. Laidlaw Wealth Management LLC’s holdings in Alibaba Group were worth $898,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BABA. Concord Wealth Partners boosted its holdings in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Decker Retirement Planning Inc. acquired a new position in Alibaba Group during the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new position in Alibaba Group in the 4th quarter valued at approximately $32,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the 3rd quarter valued at approximately $36,000. Finally, Assetmark Inc. increased its position in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 275 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays decreased their price objective on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th. Citigroup raised their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Robert W. Baird raised their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.86.

Alibaba Group Trading Up 2.0 %

Shares of BABA opened at $127.18 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $129.02. The company has a 50 day simple moving average of $92.64 and a two-hundred day simple moving average of $91.88. The firm has a market cap of $302.53 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.42 and a beta of 0.31.

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.