Ramirez Asset Management Inc. Purchases Shares of 90,344 Alibaba Group Holding Limited (NYSE:BABA)

Ramirez Asset Management Inc. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 90,344 shares of the specialty retailer's stock, valued at approximately $7,836,000. Alibaba Group accounts for 1.7% of Ramirez Asset Management Inc.'s holdings, making the stock its 10th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter worth about $26,000. Brown Shipley& Co Ltd grew its holdings in shares of Alibaba Group by 3.2% during the 2nd quarter. Brown Shipley& Co Ltd now owns 6,565 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 202 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter worth about $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Alibaba Group by 116.7% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer's stock worth $28,000 after purchasing an additional 175 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 14.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Robert W. Baird decreased their target price on Alibaba Group from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, January 19th. Macquarie lowered Alibaba Group from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $88.50 to $85.40 in a research report on Thursday, February 8th. Susquehanna reduced their price target on Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 8th. The Goldman Sachs Group reduced their price target on Alibaba Group from $121.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. reduced their price target on Alibaba Group from $110.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $115.44.

Alibaba Group Stock Performance

BABA traded up $1.64 during trading on Wednesday, reaching $73.71. 19,760,079 shares of the company were exchanged, compared to its average volume of 21,484,842. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $105.05. The stock has a market cap of $187.04 billion, a P/E ratio of 13.64 and a beta of 0.47. The firm has a 50 day moving average of $73.50 and a 200 day moving average of $79.57. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. During the same quarter last year, the company earned $2.44 EPS. The company's quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.97 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.

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