Charles Schwab Investment Management Inc. Acquires Shares of 13,917 Alibaba Group Holding Limited $BABA
Charles Schwab Investment Management Inc. acquired 13,917 shares of Alibaba Group Holding Limited (NYSE:BABA) in Q1, valued at approximately $1.84 million. Other hedge funds also increased their stakes in Alibaba. The stock opened at $135.11, with a market cap of $322.14 billion. Analysts have mixed ratings, with a consensus rating of "Moderate Buy" and a price target of $159.67. Alibaba operates in various segments, providing technology infrastructure and marketing services in China and internationally.
Charles Schwab Investment Management Inc. acquired a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,917 shares of the specialty retailer's stock, valued at approximately $1,840,000.
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Other hedge funds have also modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Evolution Wealth Advisors LLC grew its holdings in Alibaba Group by 7.0% in the first quarter. Evolution Wealth Advisors LLC now owns 5,890 shares of the specialty retailer's stock valued at $779,000 after purchasing an additional 385 shares during the period. Wharton Business Group LLC purchased a new stake in shares of Alibaba Group in the first quarter valued at approximately $251,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alibaba Group in the first quarter valued at approximately $308,000. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $252,000. 13.47% of the stock is owned by hedge funds and other institutional investors.
Alibaba Group Price Performance
Alibaba Group stock opened at $135.11 on Monday. The company has a fifty day simple moving average of $117.51 and a 200-day simple moving average of $121.72. The firm has a market capitalization of $322.14 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.99 and a beta of 0.11. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43.
Wall Street Analysts Forecast Growth
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A number of equities research analysts recently issued reports on the stock. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a report on Tuesday, June 24th. Barclays dropped their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Bank of America reduced their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, Mizuho decreased their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and a consensus price target of $159.67.
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Alibaba Group Company Profile
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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.
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