Oak Harvest Investment Services Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Oak Harvest Investment Services bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, Holdings Channel reports. The firm bought 4,500 shares of the specialty retailer’s stock, valued at approximately $478,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tandem Capital Management Corp ADV increased its stake in Alibaba Group by 38.7% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 25,268 shares of the specialty retailer’s stock valued at $2,681,000 after buying an additional 7,051 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in Alibaba Group by 4.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 4,878 shares of the specialty retailer’s stock valued at $518,000 after buying an additional 207 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after acquiring an additional 143 shares during the period. Highline Wealth Partners LLC bought a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $36,000. Finally, Mutual Advisors LLC grew its position in shares of Alibaba Group by 125.3% during the 3rd quarter. Mutual Advisors LLC now owns 12,970 shares of the specialty retailer’s stock valued at $1,376,000 after acquiring an additional 7,214 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $98.69 on Thursday. The company has a market cap of $250.43 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a 50-day moving average price of $95.08 and a 200-day moving average price of $83.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the prior year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent analyst reports. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target for the company in a research report on Monday, October 7th. Barclays upped their target price on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial cut their target price on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group Profile

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.