Alibaba Group Holding Limited $BABA Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC grew its position in Alibaba Group Holding Limited (NYSE:BABA) by 11.3% in the second quarter, HoldingsChannel reports. The fund owned 16,391 shares of the specialty retailer’s stock after acquiring an additional 1,658 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Alibaba Group were worth $1,859,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares during the period. Finally, Trivest Advisors Ltd purchased a new position in shares of Alibaba Group during the 1st quarter worth approximately $295,270,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Alibaba Group stock opened at $162.37 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $167.32. The firm has a 50 day moving average price of $127.80 and a 200 day moving average price of $123.38. The company has a market cap of $387.10 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.04 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Robert W. Baird lifted their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 2nd. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Wednesday, September 3rd. Finally, Susquehanna raised their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $168.81.

Alibaba Group Company 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.