Peregrine Asset Advisers Inc. Purchases New Stake in Alibaba Group Holding Limited (NYSE:BABA)

Peregrine Asset Advisers Inc. bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,600 shares of the specialty retailer's stock, valued at approximately $476,000.

Several other hedge funds also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in shares of Alibaba Group in the 1st quarter valued at about $31,000. Inlight Wealth Management LLC acquired a new stake in Alibaba Group in the 1st quarter worth about $31,000. Valley National Advisers Inc. raised its position in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after buying an additional 161 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in shares of Alibaba Group in the 1st quarter valued at approximately $35,000. Finally, ORG Partners LLC grew its holdings in shares of Alibaba Group by 950.0% during the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 285 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BABA has been the subject of several analyst reports. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday. Finally, Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.80.

Alibaba Group Stock Performance

BABA traded up $0.40 on Tuesday, reaching $120.67. The company had a trading volume of 11,486,256 shares, compared to its average volume of 20,172,951. Alibaba Group Holding Limited has a fifty-two week low of $73.87 and a fifty-two week high of $148.43. The stock has a market cap of $287.92 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.77 and a beta of 0.21. The company's fifty day moving average is $116.76 and its 200 day moving average is $115.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

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

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.