Pekin Hardy Strauss Inc. Buys Shares of 84,974 Alibaba Group Holding Limited (NYSE:BABA)

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

A number of other institutional investors have also added to or reduced their stakes in BABA. Concord Wealth Partners increased its position in Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group in the 4th quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in shares of Alibaba Group in the 4th quarter valued at about $32,000. Highline Wealth Partners LLC bought a new stake in shares of Alibaba Group in the 3rd quarter valued at about $36,000. Finally, Assetmark Inc. boosted its holdings in shares of Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA opened at $143.67 on Friday. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $145.30. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm 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. The firm has a 50 day moving average of $95.43 and a two-hundred day moving average of $92.99.

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

Analyst Ratings Changes

BABA has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday. Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday. Citigroup raised their price target 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, JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $131.93.

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.