Gunderson Capital Management Inc. bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,090 shares of the specialty retailer's stock, valued at approximately $10,590,000. Alibaba Group comprises about 6.8% of Gunderson Capital Management Inc.'s holdings, making the stock its 7th largest position.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alibaba Group during the 4th quarter worth $585,479,000. Renaissance Technologies LLC grew its position in shares of Alibaba Group by 208.5% during 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 raised its holdings in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Janus Henderson Group PLC lifted its stake in Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares during the last quarter. Finally, Polunin Capital Partners Ltd increased its position in 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 worth $175,221,000 after buying an additional 908,544 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on BABA. Mizuho lowered their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Benchmark cut their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $154.21.
View Our Latest Analysis on BABA
Alibaba Group Trading Up 0.5%
Shares of BABA traded up $0.63 during trading hours on Thursday, reaching $120.08. 9,090,391 shares of the company traded hands, compared to its average volume of 19,970,882. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month high of $148.43. The company has a market capitalization of $286.47 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company's fifty day moving average price is $118.62 and its two-hundred day moving average price is $109.35. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.
Alibaba Group Cuts Dividend
The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 13.83%.
Alibaba Group Company Profile
(
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.
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