KMG Fiduciary Partners LLC Buys Shares of 14,733 Alibaba Group Holding Limited (NYSE:BABA)

KMG Fiduciary Partners LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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. Berkshire Asset Management LLC PA bought a new position in Alibaba Group during the fourth quarter valued at approximately $911,000. Bailard Inc. raised its stake in Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after buying an additional 3,242 shares during the last quarter. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 18.3% during the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after buying an additional 18,230 shares during the period. TrueWealth Advisors LLC purchased a new position in shares of Alibaba Group in the 1st quarter worth $421,000. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Alibaba Group by 18.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 268,768 shares of the specialty retailer's stock worth $22,789,000 after acquiring an additional 42,290 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BABA has been the topic of several research reports. Arete Research raised Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Mizuho dropped their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. One 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 stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded down $3.74 during trading hours on Thursday, hitting $116.59. The company's stock had a trading volume of 10,042,032 shares, compared to its average volume of 19,962,648. The company has a market cap of $278.18 billion, a PE ratio of 16.85, a PEG ratio of 0.61 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The business has a 50 day moving average price of $117.87 and a two-hundred day moving average price of $110.53. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

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

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.