Apollon Wealth Management LLC Sells 1,051 Shares of Alibaba Group Holding Limited $BABA

Apollon Wealth Management LLC reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 30.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,355 shares of the specialty retailer’s stock after selling 1,051 shares during the period. Apollon Wealth Management LLC’s holdings in Alibaba Group were worth $267,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Natural Investments LLC acquired a new position in shares of Alibaba Group during the 2nd quarter worth $463,000. Lester Murray Antman dba SimplyRich grew its position in Alibaba Group by 23.2% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,259 shares of the specialty retailer’s stock valued at $596,000 after acquiring an additional 992 shares during the last quarter. Aberdeen Group plc raised its stake in Alibaba Group by 308.7% during the second quarter. Aberdeen Group plc now owns 18,534 shares of the specialty retailer’s stock worth $2,102,000 after acquiring an additional 13,999 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its holdings in shares of Alibaba Group by 2.0% in the second quarter. Blue Zone Wealth Advisors LLC now owns 53,109 shares of the specialty retailer’s stock worth $6,023,000 after acquiring an additional 1,051 shares during the last quarter. Finally, Strong Tower Advisory Services boosted its stake in shares of Alibaba Group by 3.9% in the 2nd quarter. Strong Tower Advisory Services now owns 57,111 shares of the specialty retailer’s stock valued at $6,477,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Up 1.2%

NYSE BABA opened at $167.03 on Friday. The firm has a market capitalization of $398.21 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 2.23 and a beta of 0.18. The business’s 50-day moving average price is $150.98 and its two-hundred day moving average price is $128.65. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BABA. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Benchmark raised their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. reduced 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, October 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

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.