Pekin Hardy Strauss Inc. Has $255,000 Stake in Alibaba Group Holding Limited (NYSE:BABA)

Pekin Hardy Strauss Inc. lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 33.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,537 shares of the specialty retailer’s stock after selling 1,800 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Alibaba Group were worth $255,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BABA. First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC grew its position in Alibaba Group by 139.3% in the 2nd 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. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $31,000. Asset Dedication LLC grew its position in Alibaba Group by 315.0% in the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 400 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in Alibaba Group in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on BABA shares. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, August 16th. Bank of America raised their price objective on Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial dropped their price objective on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Loop Capital restated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Morgan Stanley restated an “equal weight” rating and set a $90.00 price objective on shares of Alibaba Group in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Trading Up 1.3 %

Shares of BABA opened at $84.70 on Wednesday. The business has a 50-day moving average of $80.25 and a 200 day moving average of $77.35. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $90.46. The firm has a market cap of $214.93 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 0.43 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion during the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the firm posted $2.47 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current 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.