Hoertkorn Richard Charles Has $383,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Hoertkorn Richard Charles decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 59.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,609 shares of the specialty retailer’s stock after selling 5,389 shares during the period. Hoertkorn Richard Charles’ holdings in Alibaba Group were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Global Assets Advisory LLC acquired a new position in shares of Alibaba Group during the first quarter worth $2,023,000. Sound Income Strategies LLC boosted its holdings in shares of Alibaba Group by 94.1% in the first quarter. Sound Income Strategies LLC now owns 1,526 shares of the specialty retailer’s stock worth $110,000 after acquiring an additional 740 shares during the period. Sunbelt Securities Inc. grew its position in shares of Alibaba Group by 11.9% in the first quarter. Sunbelt Securities Inc. now owns 12,697 shares of the specialty retailer’s stock valued at $919,000 after purchasing an additional 1,353 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Alibaba Group during the first quarter worth about $85,000. Finally, Procyon Advisors LLC boosted its holdings in shares of Alibaba Group by 25.1% in the 1st quarter. Procyon Advisors LLC now owns 20,666 shares of the specialty retailer’s stock worth $1,495,000 after purchasing an additional 4,153 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $97.96 on Thursday. The company’s fifty day moving average price is $93.46 and its 200 day moving average price is $82.82. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $248.57 billion, a P/E ratio of 22.83, a P/E/G ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The business had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. As a group, sell-side analysts predict that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Bank of America increased their target price on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Sanford C. Bernstein raised their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Finally, Loop Capital reissued a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

Alibaba Group 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.