Pursue Wealth Partners LLC Invests $388,000 in Alibaba Group Holding Limited (NYSE:BABA)

Pursue Wealth Partners LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,938 shares of the specialty retailer's stock, valued at approximately $388,000.

A number of other institutional investors have also recently bought and sold shares of BABA. Appaloosa LP raised its stake in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Norges Bank purchased a new stake in shares of Alibaba Group during the 4th quarter worth about $585,479,000. Bank of America Corp DE raised its stake 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 worth $566,124,000 after purchasing an additional 438,537 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after purchasing an additional 78,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $390,885,000 after purchasing an additional 752,275 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

NYSE BABA traded down $0.57 during trading on Thursday, hitting $113.99. The company's stock had a trading volume of 8,305,752 shares, compared to its average volume of 19,966,796. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $119.66 and a 200 day moving average price of $112.65. The firm has a market cap of $271.84 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43.

Alibaba Group Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BABA shares. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday. Wall Street Zen raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $154.13.

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.