Pekin Hardy Strauss Inc. acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 84,974 shares of the specialty retailer's stock, valued at approximately $7,205,000. Alibaba Group makes up about 0.9% of Pekin Hardy Strauss Inc.'s portfolio, making the stock its 24th largest position.
Several other hedge funds have also modified their holdings of BABA. Concord Wealth Partners raised its holdings in shares of Alibaba Group by 155.0% in the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock worth $27,000 after buying an additional 155 shares during the period. Decker Retirement Planning Inc. bought a new position in Alibaba Group in the 4th quarter worth about $31,000. Sierra Ocean LLC purchased a new position in shares of Alibaba Group during the fourth quarter worth approximately $32,000. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group during the third quarter valued at approximately $36,000. Finally, Assetmark Inc. grew its stake in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 275 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on BABA. Morgan Stanley raised Alibaba Group from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $100.00 to $180.00 in a research report on Monday. Benchmark raised their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research report on Friday. Bank of America upped their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Robert W. Baird increased their target price on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.36.
Check Out Our Latest Research Report on BABA
Alibaba Group Stock Performance
BABA stock traded down $14.24 during trading on Monday, reaching $129.51. The company had a trading volume of 60,224,184 shares, compared to its average volume of 31,113,668. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $145.30. The company has a market cap of $307.72 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31. The firm has a 50-day simple moving average of $95.43 and a 200-day simple moving average of $93.09.
Alibaba Group (NYSE:BABA - Get Free Report) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.90%. The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.
About Alibaba Group
(
Free Report)
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.
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