Assetmark Inc. Buys 709 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Posted by Defense World Staff on Aug 13th, 2023

Assetmark Inc. lifted its stake in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 38.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,559 shares of the specialty retailer’s stock after buying an additional 709 shares during the period. Assetmark Inc.’s holdings in Alibaba Group were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BABA. U.S. Capital Wealth Advisors LLC bought a new stake in Alibaba Group during the fourth quarter worth $26,000. Y.D. More Investments Ltd bought a new stake in Alibaba Group during the fourth quarter worth $27,000. Syverson Strege & Co bought a new stake in Alibaba Group during the first quarter worth $40,000. ST Germain D J Co. Inc. bought a new stake in Alibaba Group during the fourth quarter worth $35,000. Finally, Resurgent Financial Advisors LLC bought a new stake in Alibaba Group during the fourth quarter worth $36,000. 13.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BABA has been the subject of several research analyst reports. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Robert W. Baird upped their price target on shares of Alibaba Group from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. Benchmark reiterated a “buy” rating and set a $180.00 price target on shares of Alibaba Group in a report on Friday. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $98.00 to $100.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Truist Financial increased their price objective on Alibaba Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Check Out Our Latest Report on BABA

Alibaba Group Price Performance

BABA stock opened at $95.72 on Friday. The stock has a market capitalization of $245.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.68. The company’s 50-day moving average is $91.00 and its 200-day moving average is $92.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.81 and a quick ratio of 1.81. Alibaba Group Holding Limited has a 1 year low of $58.01 and a 1 year high of $121.30.

Alibaba Group (NYSE:BABA – Get Free Report) last released its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $17.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.59 by $2.78. The company had revenue of $234.16 billion for the quarter, compared to analysts’ expectations of $224.75 billion. Alibaba Group had a net margin of 9.45% and a return on equity of 12.54%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. Equities research analysts expect that Alibaba Group Holding Limited will post 7.06 EPS for the current fiscal year.

About Alibaba Group

(Free Report)

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.