PNC Financial Services Group Inc. Grows Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

PNC Financial Services Group Inc. grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,886 shares of the specialty retailer’s stock after purchasing an additional 845 shares during the period. PNC Financial Services Group Inc.’s holdings in Alibaba Group were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Concord Wealth Partners boosted its holdings in Alibaba Group by 155.0% in 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 last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in Alibaba Group in the third quarter valued at approximately $36,000. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the second quarter worth approximately $25,000. Finally, GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BABA. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research report on Friday, August 23rd. Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a report on Thursday, August 29th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research report on Monday, October 7th. Finally, Barclays cut their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Stock Down 2.9 %

BABA stock opened at $83.13 on Monday. The company’s 50 day moving average price is $98.42 and its 200 day moving average price is $85.92. The firm has a market capitalization of $199.05 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

About Alibaba Group

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.