Ramirez Asset Management Inc. Has $6.85 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Ramirez Asset Management Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 80,728 shares of the specialty retailer’s stock after selling 1,376 shares during the period. Alibaba Group comprises approximately 1.4% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Ramirez Asset Management Inc.’s holdings in Alibaba Group were worth $6,845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Decker Retirement Planning Inc. bought a new position in Alibaba Group in the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new stake in shares of Alibaba Group during the 4th quarter valued at approximately $32,000. Kieckhefer Group LLC acquired a new position in Alibaba Group during the 4th quarter worth approximately $55,000. Vision Financial Markets LLC bought a new position in shares of Alibaba Group in the 4th quarter valued at $55,000. Finally, Golden State Wealth Management LLC acquired a new stake in Alibaba Group in the fourth quarter valued at $60,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

BABA opened at $135.69 on Friday. The stock has a market capitalization of $322.39 billion, a P/E ratio of 19.61, a PEG ratio of 0.61 and a beta of 0.28. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $148.43. The stock has a 50-day moving average price of $120.65 and a 200-day moving average price of $102.09.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data 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 business 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%. Equities analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BABA. StockNews.com cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lifted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Bank of America boosted their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Barclays lifted their target price on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. One research 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 stock. According to MarketBeat, Alibaba Group has an average rating of “Buy” and a consensus target price of $144.07.

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.