Pinnacle Wealth Management Advisory Group LLC raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 388.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,029 shares of the specialty retailer’s stock after buying an additional 4,000 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Alibaba Group were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Logan Capital Management Inc. purchased a new stake in shares of Alibaba Group in the 1st quarter worth approximately $29,000. Sageworth Trust Co acquired a new position in Alibaba Group during the 1st quarter valued at approximately $43,000. Burleson & Company LLC acquired a new stake in shares of Alibaba Group in the first quarter worth $45,000. Cowen Prime Advisors LLC acquired a new stake in shares of Alibaba Group in the second quarter worth $45,000. Finally, Financial Management Professionals Inc. boosted its holdings in Alibaba Group by 314.6% during the second quarter. Financial Management Professionals Inc. now owns 199 shares of the specialty retailer’s stock worth $45,000 after buying an additional 151 shares in the last quarter. 24.48% of the stock is owned by institutional investors.
Alibaba Group stock opened at $160.15 on Wednesday. Alibaba Group Holding Limited has a 52 week low of $152.80 and a 52 week high of $319.32. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $186.81 and its 200 day simple moving average is $211.29. The firm has a market capitalization of $435.32 billion, a PE ratio of 19.53, a P/E/G ratio of 1.31 and a beta of 0.79.
BABA has been the subject of a number of recent analyst reports. KGI Securities initiated coverage on shares of Alibaba Group in a research report on Monday, September 6th. They set a “neutral” rating for the company. UBS Group dropped their price target on shares of Alibaba Group from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, August 4th. CLSA lowered their price objective on shares of Alibaba Group from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Susquehanna lowered their price objective on shares of Alibaba Group from $350.00 to $310.00 and set a “positive” rating for the company in a research note on Thursday, August 5th. Finally, HSBC lowered their price objective on shares of Alibaba Group from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, August 4th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $297.55.
About Alibaba Group
Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media & Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale.
Featured Article: Return on Equity (ROE)
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.