Kovack Advisors Inc. Has $205,000 Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Kovack Advisors Inc. lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 94.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,934 shares of the specialty retailer’s stock after selling 33,079 shares during the quarter. Kovack Advisors Inc.’s holdings in Alibaba Group were worth $205,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its position in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the period. Generate Investment Management Ltd acquired a new position in Alibaba Group during the third quarter valued at approximately $12,656,000. SRN Advisors LLC increased its stake in Alibaba Group by 76.7% in the first quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Bank of America raised their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.53.

Alibaba Group Stock Down 2.2 %

NYSE BABA opened at $88.59 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $117.82. The business has a fifty day moving average price of $98.18 and a two-hundred day moving average price of $85.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $212.12 billion, a PE ratio of 23.19, a PEG ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. Equities analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal 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.