14,733 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,733 shares of the specialty retailer's stock, valued at approximately $1,948,000.

Other hedge funds also recently added to or reduced their stakes in the company. Marcum Wealth LLC raised its holdings in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares in the last quarter. Rings Capital Management LLC raised its holdings in Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after purchasing an additional 101 shares in the last quarter. Global Endowment Management LP raised its holdings in Alibaba Group by 1.4% in the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 106 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in Alibaba Group by 3.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after purchasing an additional 108 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $119.48 on Monday. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. The company's 50 day moving average is $118.11 and its 200 day moving average is $110.11. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a market cap of $285.08 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BABA. Mizuho reduced their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Bank of America boosted their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Finally, Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $154.21.

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.

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