Cedar Wealth Management LLC Grows Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Cedar Wealth Management LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 21.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,655 shares of the specialty retailer’s stock after purchasing an additional 1,682 shares during the quarter. Cedar Wealth Management LLC’s holdings in Alibaba Group were worth $819,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new position in Alibaba Group in the 4th quarter worth approximately $31,000. Sierra Ocean LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $32,000. Kieckhefer Group LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $55,000. Vision Financial Markets LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of BABA opened at $135.16 on Friday. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43. The stock has a market cap of $321.14 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a fifty day moving average price of $116.49 and a 200 day moving average price of $100.78.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BABA shares. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Robert W. Baird lifted their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Bank of America lifted their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup lifted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of “Buy” and an average target price of $144.07.

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.