Philip James Wealth Mangement LLC Reduces Stock Position in Alibaba Group Holding Limited $BABA

Philip James Wealth Mangement LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 22.1% during the second quarter, HoldingsChannel.com reports. The fund owned 69,052 shares of the specialty retailer’s stock after selling 19,590 shares during the period. Alibaba Group makes up approximately 1.0% of Philip James Wealth Mangement LLC’s holdings, making the stock its 22nd largest holding. Philip James Wealth Mangement LLC’s holdings in Alibaba Group were worth $7,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BABA. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC increased its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. 1248 Management LLC bought a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 196 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $182.70 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $183.08. The firm’s fifty day moving average is $137.93 and its 200 day moving average is $125.56. The firm has a market cap of $435.57 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.06 and a beta of 0.18.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BABA shares. Mizuho upped 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. Sanford C. Bernstein restated an “outperform” rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. 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 report on Thursday, September 18th. Finally, UBS Group restated a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $180.75.

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.