2,938 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Pursue Wealth Partners LLC

Pursue Wealth 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 disclosure with the SEC. The firm purchased 2,938 shares of the specialty retailer's stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alibaba Group during the 4th quarter worth about $585,479,000. Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after acquiring an additional 2,024,640 shares during the period. Appaloosa LP lifted its position in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after acquiring an additional 1,843,158 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after acquiring an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd grew its position in shares of Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after purchasing an additional 908,544 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $154.21.

Alibaba Group Stock Down 0.5%

NYSE BABA opened at $112.91 on Monday. The business has a fifty day moving average price of $119.34 and a two-hundred day moving average price of $112.27. The stock has a market capitalization of $269.27 billion, a PE ratio of 15.16, a PEG ratio of 0.46 and a beta of 0.22. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48.

Alibaba Group Cuts Dividend

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

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