Avaii Wealth Management LLC Purchases Shares of 4,255 Alibaba Group Holding Limited (NYSE:BABA)

Avaii Wealth Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,255 shares of the specialty retailer's stock, valued at approximately $563,000.

Other hedge funds have also recently modified their holdings of the company. Berkshire Asset Management LLC PA acquired a new position in Alibaba Group in the 4th quarter valued at about $911,000. KMG Fiduciary Partners LLC purchased a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $1,948,000. Bailard Inc. boosted its position in shares of Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after purchasing an additional 3,242 shares during the period. Fiduciary Alliance LLC increased its holdings in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the last quarter. Finally, TrueWealth Advisors LLC purchased a new stake in Alibaba Group in the first quarter valued at approximately $421,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

BABA traded down $0.88 on Tuesday, hitting $115.08. 10,190,648 shares of the company were exchanged, compared to its average volume of 19,920,693. 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 quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $274.58 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The business's fifty day moving average is $118.69 and its 200 day moving average is $111.47.

Alibaba Group Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's payout ratio is 13.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BABA. Mizuho dropped their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Robert W. Baird cut their target price 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, Barclays boosted their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $154.21.

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.