Raab & Moskowitz Asset Management LLC boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,664 shares of the specialty retailer’s stock after acquiring an additional 651 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Alibaba Group were worth $1,737,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of Alibaba Group by 62.9% in the fourth quarter. Meeder Asset Management Inc. now owns 114 shares of the specialty retailer’s stock worth $27,000 after buying an additional 44 shares in the last quarter. Inspire Advisors LLC purchased a new position in Alibaba Group during the fourth quarter worth about $27,000. Planned Solutions Inc. raised its stake in Alibaba Group by 66.7% during the fourth quarter. Planned Solutions Inc. now owns 125 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 50 shares during the period. ForthRight Wealth Management LLC purchased a new position in Alibaba Group during the fourth quarter worth about $31,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in Alibaba Group during the fourth quarter worth about $35,000. Institutional investors own 40.38% of the company’s stock.
A number of equities research analysts have weighed in on the stock. KeyCorp dropped their price target on shares of Alibaba Group from $315.00 to $305.00 and set an “overweight” rating for the company in a research report on Monday, April 19th. Nomura reiterated a “buy” rating and set a $338.00 price target on shares of Alibaba Group in a research report on Thursday, January 14th. Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating and set a $239.00 price target for the company in a research report on Tuesday, March 30th. Benchmark dropped their price target on shares of Alibaba Group from $315.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, April 15th. Finally, Macquarie reiterated an “outperform” rating and set a $407.00 price target (down from $421.00) on shares of Alibaba Group in a research report on Thursday, April 1st. Three investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $319.73.
NYSE BABA traded down $2.50 during trading hours on Tuesday, reaching $228.21. The company’s stock had a trading volume of 174,367 shares, compared to its average volume of 18,243,916. The stock has a market cap of $617.45 billion, a PE ratio of 33.10, a PEG ratio of 1.59 and a beta of 0.99. Alibaba Group Holding Limited has a fifty-two week low of $189.53 and a fifty-two week high of $319.32. The company’s 50-day moving average is $231.68 and its two-hundred day moving average is $254.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.99 and a current ratio of 1.99.
Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Monday, February 1st. The specialty retailer reported $22.03 EPS for the quarter, beating the Zacks’ consensus estimate of $2.78 by $19.25. The firm had revenue of $221.08 billion for the quarter, compared to analysts’ expectations of $214.39 billion. Alibaba Group had a net margin of 22.56% and a return on equity of 12.74%. The firm’s revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the company earned $18.19 EPS. Equities analysts expect that Alibaba Group Holding Limited will post 7.84 earnings per share for the current fiscal year.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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