Ramirez Asset Management Inc. Lowers Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Ramirez Asset Management Inc. cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,728 shares of the specialty retailer’s stock after selling 1,376 shares during the quarter. Alibaba Group comprises approximately 1.4% of Ramirez Asset Management Inc.’s portfolio, making the stock its 14th biggest holding. Ramirez Asset Management Inc.’s holdings in Alibaba Group were worth $6,845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its stake in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Alibaba Group by 3.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after buying an additional 108 shares during the last quarter. TRUE Private Wealth Advisors raised its holdings in Alibaba Group by 3.7% in the 3rd 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 period. TBH Global Asset Management LLC boosted its holdings 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 acquiring an additional 112 shares during the period. Finally, Xponance Inc. grew its position in shares of Alibaba Group by 4.5% in the fourth quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer’s stock valued at $230,000 after purchasing an additional 116 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on BABA. JPMorgan Chase & Co. upped their price target on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Citigroup raised their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. StockNews.com cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $180.00 in a report on Monday, February 24th. Finally, Benchmark increased their price objective on shares of Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $144.07.

Alibaba Group Stock Up 2.6 %

Shares of NYSE:BABA opened at $135.69 on Friday. The company has a 50 day moving average price of $120.65 and a two-hundred day moving average price of $102.09. The company has a market capitalization of $322.39 billion, a PE ratio of 19.61, a PEG ratio of 0.61 and a beta of 0.28. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group (NYSE:BABA) last released its 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 firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.