Fortis Capital Advisors LLC Acquires Shares of 7,755 Alibaba Group Holding Limited (NYSE:BABA)

Fortis Capital Advisors LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,755 shares of the specialty retailer’s stock, valued at approximately $558,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC grew its stake in Alibaba Group by 16.7% during the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock worth $72,000 after buying an additional 142 shares in the last quarter. Legacy Advisors LLC increased its stake in Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock valued at $826,000 after acquiring an additional 145 shares during the last quarter. North Star Investment Management Corp. raised its position in Alibaba Group by 11.2% during the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 154 shares in the last quarter. Evolution Wealth Advisors LLC lifted its stake in Alibaba Group by 4.1% during the second quarter. Evolution Wealth Advisors LLC now owns 4,004 shares of the specialty retailer’s stock worth $288,000 after purchasing an additional 158 shares during the last quarter. Finally, WNY Asset Management LLC boosted its holdings in shares of Alibaba Group by 2.8% in the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock valued at $436,000 after purchasing an additional 164 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird upped their price objective on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Bank of America upped their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Mizuho cut their target price on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

Shares of BABA stock opened at $82.88 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $95.80. The business’s 50 day simple moving average is $78.34 and its 200 day simple moving average is $76.77. The stock has a market capitalization of $210.31 billion, a PE ratio of 19.17, a PEG ratio of 0.42 and a beta of 0.32.

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

Alibaba Group Company 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.