Oppenheimer Asset Management Inc. Cuts Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Oppenheimer Asset Management Inc. trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 47,700 shares of the specialty retailer’s stock after selling 1,537 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Alibaba Group were worth $4,044,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new stake in Alibaba Group during the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the 4th quarter valued at about $32,000. Assetmark Inc. lifted its position in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Alibaba Group in the 4th quarter worth approximately $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

NYSE BABA opened at $132.45 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $100.36 and its 200 day moving average price is $94.88. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $145.30. The firm has a market cap of $314.70 billion, a P/E ratio of 19.14, a P/E/G ratio of 0.61 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, equities research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analysts Set New Price Targets

BABA has been the topic of a number of research analyst reports. Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Benchmark lifted their target price on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Robert W. Baird increased their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Fifteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $144.07.

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.