Kovack Advisors Inc. Sells 2,706 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Kovack Advisors Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,555 shares of the specialty retailer’s stock after selling 2,706 shares during the quarter. Kovack Advisors Inc.’s holdings in Alibaba Group were worth $2,446,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. DAVENPORT & Co LLC lifted its position in shares of Alibaba Group by 16.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 6,550 shares of the specialty retailer’s stock valued at $568,000 after buying an additional 945 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Alibaba Group by 61.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,689 shares of the specialty retailer’s stock worth $1,274,000 after purchasing an additional 5,594 shares in the last quarter. Private Trust Co. NA lifted its holdings in Alibaba Group by 19.5% in the 3rd quarter. Private Trust Co. NA now owns 7,783 shares of the specialty retailer’s stock worth $675,000 after purchasing an additional 1,272 shares in the last quarter. SOL Capital Management CO lifted its holdings in Alibaba Group by 0.6% in the 3rd quarter. SOL Capital Management CO now owns 32,767 shares of the specialty retailer’s stock worth $2,842,000 after purchasing an additional 200 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in Alibaba Group by 12.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,086 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 465 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Up 0.6 %

Shares of BABA traded up $0.44 during midday trading on Friday, reaching $75.55. 14,183,983 shares of the stock were exchanged, compared to its average volume of 17,981,184. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $102.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $73.19 and its two-hundred day moving average is $75.50. The company has a market capitalization of $191.70 billion, a P/E ratio of 13.94 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The firm had revenue of $260.35 billion for the quarter, compared to the consensus estimate of $260.26 billion. During the same period in the previous year, the company posted $2.44 EPS. Alibaba Group’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on BABA shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a report on Tuesday, April 9th. Robert W. Baird decreased their price objective on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Citigroup cut their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.91.

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.