Cetera Advisors LLC Purchases 16,847 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Posted by Defense World Staff on Jun 13th, 2023

Cetera Advisors LLC lifted its position in Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 47.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,526 shares of the specialty retailer’s stock after acquiring an additional 16,847 shares during the quarter. Cetera Advisors LLC’s holdings in Alibaba Group were worth $4,627,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC grew its stake in shares of Alibaba Group by 54.1% during the fourth quarter. Ulland Investment Advisors LLC now owns 285 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Alibaba Group in the 4th quarter valued at $26,000. Y.D. More Investments Ltd purchased a new stake in Alibaba Group in the fourth quarter worth $27,000. Romano Brothers AND Company purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $30,000. Finally, Column Capital Advisors LLC bought a new position in shares of Alibaba Group in the fourth quarter worth about $40,000. 13.86% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

NYSE BABA opened at $85.86 on Tuesday. Alibaba Group Holding Limited has a 12-month low of $58.01 and a 12-month high of $125.84. The firm’s fifty day simple moving average is $87.60 and its two-hundred day simple moving average is $93.41. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $227.37 billion, a P/E ratio of 20.99, a P/E/G ratio of 0.98 and a beta of 0.65.

Analysts Set New Price Targets

BABA has been the subject of a number of research analyst reports. Citigroup decreased their price objective on shares of Alibaba Group from $154.00 to $144.00 in a report on Friday, May 19th. StockNews.com cut Alibaba Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial upped their target price on Alibaba Group from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 24th. KGI Securities upgraded Alibaba Group from a “neutral” rating to an “outperform” rating in a research note on Friday, February 24th. Finally, Robert W. Baird dropped their target price on shares of Alibaba Group from $120.00 to $115.00 in a report on Friday, May 19th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $143.69.

Alibaba Group Company 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.