Alibaba Group Holding Limited (BABA) Shares Bought by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 32.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,618 shares of the specialty retailer’s stock after buying an additional 5,825 shares during the period. Salem Investment Counselors Inc.’s holdings in Alibaba Group were worth $4,098,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $104,000. Lorber David A acquired a new stake in Alibaba Group during the 3rd quarter worth approximately $109,000. Winch Advisory Services LLC raised its holdings in Alibaba Group by 147.4% during the 2nd quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in Alibaba Group during the 2nd quarter worth approximately $116,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in Alibaba Group by 29.0% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 890 shares of the specialty retailer’s stock worth $125,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Alibaba Group Holding Limited (NYSE:BABA) opened at $176.47 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. Alibaba Group Holding Limited has a fifty-two week low of $86.01 and a fifty-two week high of $191.75. The firm has a market cap of $447,279.94, a price-to-earnings ratio of 50.77, a P/E/G ratio of 1.32 and a beta of 2.52.

BABA has been the topic of a number of recent research reports. Bank of America lifted their price objective on shares of Alibaba Group from $180.00 to $193.00 and gave the company a “buy” rating in a report on Friday, August 18th. Macquarie lifted their price objective on shares of Alibaba Group from $171.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 18th. Stifel Nicolaus reiterated a “buy” rating on shares of Alibaba Group in a report on Wednesday. KeyCorp set a $182.00 price objective on shares of Alibaba Group and gave the company an “overweight” rating in a report on Friday, August 18th. Finally, MKM Partners lifted their price objective on shares of Alibaba Group from $177.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Alibaba Group currently has an average rating of “Buy” and a consensus price target of $185.14.

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Alibaba Group Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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