New Insight Wealth Advisors Buys New Stake in Alibaba Group Holding Limited (NYSE:BABA)

New Insight Wealth Advisors purchased a new position in 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 15,260 shares of the specialty retailer's stock, valued at approximately $2,018,000. Alibaba Group makes up approximately 0.9% of New Insight Wealth Advisors' portfolio, making the stock its 26th biggest position.

Several other institutional investors have also added to or reduced their stakes in BABA. Appaloosa LP increased its holdings in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Norges Bank purchased a new position in shares of Alibaba Group during the 4th quarter valued at approximately $585,479,000. Bank of America Corp DE increased its holdings in shares of Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BABA shares. Citigroup dropped their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird dropped their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Bank of America reduced their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Mizuho reduced their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $153.13.

Alibaba Group Price Performance

Shares of NYSE BABA traded up $0.08 during midday trading on Friday, hitting $106.72. The company had a trading volume of 10,755,838 shares, compared to its average volume of 19,993,167. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $73.87 and a twelve month high of $148.43. The business has a 50-day simple moving average of $118.14 and a two-hundred day simple moving average of $114.23. The firm has a market capitalization of $254.66 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.45 and a beta of 0.21.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's payout ratio is currently 12.75%.

Alibaba Group Company 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.