PNC Financial Services Group Inc. Purchases 845 Shares of Alibaba Group Holding Limited (NYSE:BABA)

PNC Financial Services Group Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,886 shares of the specialty retailer’s stock after purchasing an additional 845 shares during the period. PNC Financial Services Group Inc.’s holdings in Alibaba Group were worth $4,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group in the 2nd quarter worth $25,000. GPS Wealth Strategies Group LLC lifted its position in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Alibaba Group in the second quarter worth $27,000. Concord Wealth Partners increased its position in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter valued at $36,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BABA shares. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial decreased their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Trading Down 2.9 %

Alibaba Group stock opened at $83.13 on Monday. The firm has a market cap of $199.05 billion, a PE ratio of 16.86, a P/E/G ratio of 0.42 and a beta of 0.35. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The stock’s 50 day simple moving average is $98.42 and its two-hundred day simple moving average is $85.92. The company has a current ratio of 1.37, a quick ratio of 1.41 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The firm had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 earnings per share. Analysts anticipate that Alibaba Group Holding Limited will post 8.51 earnings per share for the current 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.