Udine Wealth Management Inc. Increases Stock Holdings in Alibaba Group Holding Limited $BABA

Udine Wealth Management Inc. boosted its position in Alibaba Group Holding Limited (NYSE:BABA) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,890 shares of the specialty retailer’s stock after purchasing an additional 102 shares during the period. Alibaba Group comprises 1.1% of Udine Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. Udine Wealth Management Inc.’s holdings in Alibaba Group were worth $1,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $26,000. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its position in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. lifted its position in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 8.6%

Shares of BABA opened at $158.76 on Friday. The business’s 50 day moving average is $146.36 and its 200 day moving average is $127.50. The company has a market capitalization of $378.50 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.88 and a beta of 0.18. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Wednesday, September 3rd. Robert W. Baird lifted their price objective on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lowered their price objective on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Benchmark lifted their target price on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $188.06.

Alibaba Group 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.