Peapack Gladstone Financial Corp Acquires Shares of 4,516 Alibaba Group Holding Limited (NYSE:BABA)

Peapack Gladstone Financial Corp bought a new position in Alibaba Group Holding Limited (NYSE:BABAFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,516 shares of the specialty retailer’s stock, valued at approximately $351,000.

Other large investors have also made changes to their positions in the company. Jump Financial LLC boosted its position in shares of Alibaba Group by 38.5% in the third quarter. Jump Financial LLC now owns 4,171 shares of the specialty retailer’s stock worth $362,000 after buying an additional 1,160 shares during the period. Quantbot Technologies LP acquired a new stake in Alibaba Group during the 3rd quarter worth about $318,000. Avantax Advisory Services Inc. grew its stake in Alibaba Group by 7.8% during the 3rd quarter. Avantax Advisory Services Inc. now owns 11,989 shares of the specialty retailer’s stock valued at $1,040,000 after acquiring an additional 870 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Alibaba Group by 25.8% in the 3rd quarter. Spire Wealth Management now owns 9,410 shares of the specialty retailer’s stock valued at $816,000 after purchasing an additional 1,927 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Alibaba Group by 11.2% during the third quarter. Atria Wealth Solutions Inc. now owns 22,759 shares of the specialty retailer’s stock worth $1,974,000 after purchasing an additional 2,285 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BABA. Citigroup cut their target price on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. The Goldman Sachs Group reduced their price objective on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $85.00 target price on shares of Alibaba Group in a research report on Tuesday, April 9th. Mizuho cut their price target on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Barclays lowered their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.79.

Read Our Latest Stock Analysis on Alibaba Group

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $80.02 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $77.15 and a 200 day moving average price of $75.00. The company has a market cap of $203.05 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.48 and a beta of 0.38. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $102.50.

Alibaba Group (NYSE:BABAGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.13. The business had revenue of $30.73 billion for the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. Research analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Dividend Announcement

The business also recently disclosed a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be given a dividend of $1.66 per share. This represents a dividend yield of 3%. The ex-dividend date is Thursday, June 13th. Alibaba Group’s dividend payout ratio is currently 22.84%.

Alibaba Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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