OLD National Bancorp IN Has $555,000 Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Posted by Defense World Staff on Apr 25th, 2023

OLD National Bancorp IN grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 62.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,301 shares of the specialty retailer’s stock after purchasing an additional 2,430 shares during the quarter. OLD National Bancorp IN’s holdings in Alibaba Group were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC raised its position in Alibaba Group by 4.9% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,783 shares of the specialty retailer’s stock worth $245,000 after acquiring an additional 130 shares in the last quarter. Quattro Financial Advisors LLC lifted its stake in Alibaba Group by 242.7% in the 3rd quarter. Quattro Financial Advisors LLC now owns 11,391 shares of the specialty retailer’s stock valued at $911,000 after purchasing an additional 8,067 shares during the last quarter. Dantai Capital Ltd bought a new position in Alibaba Group during the fourth quarter worth about $45,111,000. Nuveen Asset Management LLC acquired a new position in Alibaba Group during the third quarter worth approximately $81,183,000. Finally, SkyOak Wealth LLC lifted its position in shares of Alibaba Group by 17.3% in the fourth quarter. SkyOak Wealth LLC now owns 4,072 shares of the specialty retailer’s stock valued at $359,000 after buying an additional 600 shares during the last quarter. Institutional investors own 13.86% of the company’s stock.

Alibaba Group Stock Down 2.5 %

BABA stock opened at $86.89 on Tuesday. The company has a market cap of $230.10 billion, a PE ratio of 47.74, a price-to-earnings-growth ratio of 1.06 and a beta of 0.66. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 52 week low of $58.01 and a 52 week high of $125.84. The business has a 50-day simple moving average of $92.53 and a 200 day simple moving average of $90.53.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Alibaba Group from $100.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 9th. Barclays increased their price objective on shares of Alibaba Group from $114.00 to $141.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. The Goldman Sachs Group raised shares of Alibaba Group from a “buy” rating to a “conviction-buy” rating in a report on Sunday, January 8th. StockNews.com initiated coverage on shares of Alibaba Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Mizuho restated a “buy” rating and set a $155.00 price objective on shares of Alibaba Group in a report on Wednesday, March 29th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $149.40.

Alibaba Group Profile

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Alibaba Group Holding Ltd. engages in providing technology infrastructure and marketing reach. It operates through the following business segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others segments.