WCM Investment Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 30,762 shares of the specialty retailer's stock, valued at approximately $4,074,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Alibaba Group by 96.0% during the 4th quarter. Bank of New York Mellon Corp now owns 172,748 shares of the specialty retailer's stock valued at $14,647,000 after buying an additional 84,604 shares during the last quarter. US Bancorp DE increased its position in Alibaba Group by 47.2% during the fourth quarter. US Bancorp DE now owns 46,018 shares of the specialty retailer's stock worth $3,902,000 after buying an additional 14,752 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Alibaba Group by 2,459.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the specialty retailer's stock worth $217,000 after acquiring an additional 2,459 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Alibaba Group by 37.2% in the fourth quarter. Jones Financial Companies Lllp now owns 22,438 shares of the specialty retailer's stock worth $1,903,000 after acquiring an additional 6,081 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on BABA shares. Benchmark dropped their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Robert W. Baird reduced their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $154.13.
Read Our Latest Stock Report on BABA
Alibaba Group Stock Down 2.8%
Shares of NYSE BABA opened at $110.79 on Thursday. The stock has a market capitalization of $264.37 billion, a PE ratio of 14.87, a P/E/G ratio of 0.49 and a beta of 0.22. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average of $119.63 and a 200-day moving average of $113.32. Alibaba Group Holding Limited has a 52-week low of $72.95 and a 52-week high of $148.43.
Alibaba Group Cuts Dividend
The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.
About Alibaba Group
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alibaba Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alibaba Group wasn't on the list.
While Alibaba Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
