Alpha Cubed Investments LLC Makes New $697,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Alpha Cubed Investments LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,271 shares of the specialty retailer's stock, valued at approximately $697,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in 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 acquiring an additional 981 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 worth $14,647,000 after buying an additional 84,604 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Alibaba Group in the 4th quarter valued at about $1,063,000. Assetmark Inc. increased its holdings in shares of Alibaba Group by 3,405.5% in the 4th quarter. Assetmark Inc. now owns 13,917 shares of the specialty retailer's stock valued at $1,180,000 after purchasing an additional 13,520 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alibaba Group in the 4th quarter valued at about $1,189,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of BABA traded down $3.71 during midday trading on Wednesday, hitting $104.28. 24,510,536 shares of the stock traded hands, compared to its average volume of 20,024,541. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43. The firm has a market capitalization of $248.84 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The business's 50 day moving average price is $118.73 and its two-hundred day moving average price is $114.15.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 13.83%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BABA. Benchmark decreased their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Robert W. Baird dropped 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. Mizuho dropped their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Citigroup dropped their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently 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.