Circle Wealth Management LLC Makes New $1.26 Million Investment in Alibaba Group Holding Limited (NYSE:BABA)

Circle Wealth Management LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,858 shares of the specialty retailer’s stock, valued at approximately $1,258,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its holdings in shares of Alibaba Group by 17.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,387 shares of the specialty retailer’s stock valued at $245,000 after purchasing an additional 506 shares in the last quarter. Atria Investments Inc boosted its position in Alibaba Group by 22.7% during the first quarter. Atria Investments Inc now owns 35,967 shares of the specialty retailer’s stock valued at $2,603,000 after acquiring an additional 6,665 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Alibaba Group by 249.0% during the 1st quarter. Cetera Investment Advisers now owns 98,849 shares of the specialty retailer’s stock valued at $7,153,000 after purchasing an additional 70,526 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Alibaba Group by 90.1% during the 1st quarter. Cetera Advisors LLC now owns 38,492 shares of the specialty retailer’s stock worth $2,785,000 after buying an additional 18,243 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Alibaba Group by 20.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 142,690 shares of the specialty retailer’s stock valued at $10,325,000 after purchasing an additional 24,700 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.9 %

Shares of NYSE BABA opened at $87.37 on Friday. The firm has a fifty day simple moving average of $98.45 and a two-hundred day simple moving average of $86.03. The firm has a market capitalization of $209.05 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. Equities analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on BABA. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Wednesday, November 20th. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, October 7th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.07.

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.