PNC Financial Services Group Inc. Buys 3,133 Shares of Alibaba Group Holding Limited $BABA

PNC Financial Services Group Inc. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,536 shares of the specialty retailer’s stock after buying an additional 3,133 shares during the period. PNC Financial Services Group Inc.’s holdings in Alibaba Group were worth $5,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in Alibaba Group during the first quarter valued at $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the first quarter worth $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Alibaba Group in the second quarter valued at $26,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 3.9%

BABA stock opened at $153.66 on Monday. The stock has a 50-day simple moving average of $167.90 and a two-hundred day simple moving average of $136.77. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The firm has a market capitalization of $366.64 billion, a PE ratio of 17.87, a PEG ratio of 2.40 and a beta of 0.19. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BABA. CLSA increased their price target on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Jefferies Financial Group upped their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, September 29th. Susquehanna increased their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Finally, Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $190.18.

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.