Pinnacle Wealth Management Advisory Group LLC Grows Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

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.

Alibaba Group (NYSE:BABA) last released its earnings results on Monday, August 2nd. The specialty retailer reported $16.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $14.86. The company had revenue of $205.74 billion for the quarter, compared to analyst estimates of $208.67 billion. Alibaba Group had a net margin of 19.25% and a return on equity of 12.92%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $14.82 EPS. On average, research analysts expect that Alibaba Group Holding Limited will post 8.3 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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