Jessup Wealth Management Inc Grows Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Jessup Wealth Management Inc increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 780.0% in the 4th quarter, HoldingsChannel reports. The firm owned 83,962 shares of the specialty retailer’s stock after acquiring an additional 74,421 shares during the quarter. Alibaba Group makes up approximately 3.0% of Jessup Wealth Management Inc’s holdings, making the stock its 12th largest holding. Jessup Wealth Management Inc’s holdings in Alibaba Group were worth $7,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. AMF Tjanstepension AB boosted its position in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after purchasing an additional 178,999 shares in the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Alibaba Group by 8.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,360 shares of the specialty retailer’s stock valued at $357,000 after purchasing an additional 266 shares during the period. Raymond James & Associates grew its position in Alibaba Group by 2.3% during the third quarter. Raymond James & Associates now owns 403,766 shares of the specialty retailer’s stock valued at $42,848,000 after buying an additional 9,020 shares during the period. Signaturefd LLC increased its holdings in Alibaba Group by 4.1% in the third quarter. Signaturefd LLC now owns 24,863 shares of the specialty retailer’s stock valued at $2,638,000 after buying an additional 986 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Alibaba Group by 47.1% during the 3rd quarter. Private Advisor Group LLC now owns 100,975 shares of the specialty retailer’s stock worth $10,715,000 after acquiring an additional 32,324 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BABA. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Robert W. Baird lifted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays cut their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Finally, Mizuho lifted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

Alibaba Group Stock Down 1.0 %

BABA stock opened at $125.57 on Thursday. The company has a market cap of $298.36 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 0.53 and a beta of 0.31. The firm has a 50-day moving average of $93.37 and a two-hundred day moving average of $92.11. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $129.02. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16.

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.