Philip James Wealth Mangement LLC Takes $11.77 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Philip James Wealth Mangement LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 3rd quarter, Holdings Channel reports. The fund acquired 110,916 shares of the specialty retailer’s stock, valued at approximately $11,770,000. Alibaba Group accounts for about 1.4% of Philip James Wealth Mangement LLC’s portfolio, making the stock its 15th largest holding.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of Alibaba Group in the first quarter valued at about $529,000. Geneos Wealth Management Inc. raised its position in Alibaba Group by 118.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,430 shares of the specialty retailer’s stock worth $465,000 after buying an additional 3,482 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Alibaba Group by 8.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,279 shares of the specialty retailer’s stock valued at $599,000 after acquiring an additional 632 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Alibaba Group by 18.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 62,009 shares of the specialty retailer’s stock valued at $4,487,000 after acquiring an additional 9,650 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Alibaba Group by 10.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,884 shares of the specialty retailer’s stock valued at $2,307,000 after acquiring an additional 2,929 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE:BABA traded down $4.46 during trading hours on Friday, reaching $95.68. 4,087,012 shares of the company were exchanged, compared to its average volume of 17,569,246. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a market cap of $229.15 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 0.46 and a beta of 0.35. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $117.82. The stock’s 50-day moving average is $96.65 and its 200-day moving average is $84.70.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

BABA has been the subject of a number of research reports. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Monday, October 7th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Loop Capital reissued a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Finally, Robert W. Baird raised their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.13.

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.