Adero Partners LLC lessened its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 46.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 23,104 shares of the specialty retailer's stock after selling 20,040 shares during the period. Adero Partners LLC's holdings in Alibaba Group were worth $3,055,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $32,000. IAG Wealth Partners LLC grew its stake in Alibaba Group by 67.2% in the first quarter. IAG Wealth Partners LLC now owns 515 shares of the specialty retailer's stock valued at $68,000 after acquiring an additional 207 shares during the period. Financial Management Professionals Inc. grew its stake in Alibaba Group by 217.6% in the first quarter. Financial Management Professionals Inc. now owns 524 shares of the specialty retailer's stock valued at $69,000 after acquiring an additional 359 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its stake in Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock valued at $46,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on BABA shares. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Citigroup dropped their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen upgraded Alibaba Group from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a report on Wednesday, May 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $154.21.
Get Our Latest Report on BABA
Alibaba Group Stock Down 3.4%
Alibaba Group stock opened at $112.71 on Monday. The company has a market capitalization of $268.93 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.61 and a beta of 0.22. The firm has a 50 day moving average price of $118.35 and a 200-day moving average price of $111.27. 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 Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43.
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 paid a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's payout ratio is presently 13.83%.
Alibaba Group 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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