Guinness Asset Management LTD Has $66,000 Holdings in Alibaba Group Holding Limited $BABA

Guinness Asset Management LTD raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 30.8% during the first quarter, HoldingsChannel.com reports. The firm owned 497 shares of the specialty retailer’s stock after acquiring an additional 117 shares during the quarter. Guinness Asset Management LTD’s holdings in Alibaba Group were worth $66,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares during the period. Captrust Financial Advisors raised its position in shares of Alibaba Group by 5.0% in the 4th quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer’s stock valued at $950,000 after acquiring an additional 536 shares during the period. Focus Partners Wealth raised its position in shares of Alibaba Group by 11.2% in the 4th quarter. Focus Partners Wealth now owns 14,537 shares of the specialty retailer’s stock valued at $1,254,000 after acquiring an additional 1,464 shares during the period. Quantinno Capital Management LP raised its position in shares of Alibaba Group by 15.0% in the 4th quarter. Quantinno Capital Management LP now owns 22,612 shares of the specialty retailer’s stock valued at $1,917,000 after acquiring an additional 2,953 shares during the period. Finally, Point72 Hong Kong Ltd raised its position in shares of Alibaba Group by 1,632.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 545,257 shares of the specialty retailer’s stock valued at $46,232,000 after acquiring an additional 513,781 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of BABA opened at $155.55 on Friday. The stock has a market capitalization of $370.87 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.01 and a beta of 0.11. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $156.85. The company has a 50 day moving average of $122.41 and a 200-day moving average of $122.48. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

BABA has been the topic of a number of analyst reports. Bank of America increased their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, September 2nd. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Robert W. Baird raised their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Finally, Citigroup raised their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $167.40.

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.