84,974 Shares in Alibaba Group Holding Limited (NYSE:BABA) Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,974 shares of the specialty retailer’s stock, valued at approximately $7,205,000. Alibaba Group comprises 0.9% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. TRUE Private Wealth Advisors boosted its position in shares of Alibaba Group by 3.7% during the third quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 112 shares during the last quarter. TBH Global Asset Management LLC lifted its position in Alibaba Group by 2.4% during the fourth quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer’s stock valued at $407,000 after purchasing an additional 112 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares during the last quarter. Capital Investment Advisory Services LLC lifted its position in Alibaba Group by 3.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 3,883 shares of the specialty retailer’s stock valued at $329,000 after purchasing an additional 124 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Alibaba Group by 3.6% during the fourth quarter. Sivia Capital Partners LLC now owns 3,825 shares of the specialty retailer’s stock valued at $324,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the subject of several research reports. Citigroup increased their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird increased their price objective on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays increased their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America increased their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.93.

Alibaba Group Trading Up 5.7 %

BABA stock opened at $143.67 on Friday. The company has a market capitalization of $341.36 billion, a PE ratio of 20.76, a P/E/G ratio of 0.57 and a beta of 0.31. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $145.30. The firm’s 50-day moving average is $95.43 and its 200 day moving average is $92.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.90% and a net margin of 12.29%. On average, research analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

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.