Alberta Investment Management Corp Increases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Alberta Investment Management Corp increased its stake in Alibaba Group by 6.7% in Q1, holding a total of 378,358 shares valued at $50.03 million.
• Prominent hedge funds, including Bank of America and UBS Asset Management, also raised their holdings in Alibaba, indicating a rising interest from institutional investors.
• Analysts have a mixed outlook on Alibaba's stock, with recent price targets ranging from $135 to $176, while maintaining an average rating of "Moderate Buy."

Alberta Investment Management Corp grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,358 shares of the specialty retailer's stock after purchasing an additional 23,904 shares during the period. Alberta Investment Management Corp's holdings in Alibaba Group were worth $50,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BABA. NorthRock Partners LLC acquired a new position in shares of Alibaba Group during the first quarter worth about $236,000. Modera Wealth Management LLC acquired a new position in shares of Alibaba Group during the first quarter worth about $347,000. Baader Bank Aktiengesellschaft grew its position in shares of Alibaba Group by 12.0% during the first quarter. Baader Bank Aktiengesellschaft now owns 8,514 shares of the specialty retailer's stock worth $1,126,000 after buying an additional 914 shares in the last quarter. Wellington Shields & Co. LLC acquired a new position in shares of Alibaba Group during the first quarter worth about $135,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Alibaba Group in the first quarter valued at approximately $228,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BABA. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Mizuho cut their price target 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. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $153.29.

Alibaba Group Price Performance

NYSE:BABA traded down $3.57 during trading hours on Friday, hitting $117.06. The company's stock had a trading volume of 12,191,248 shares, compared to its average volume of 14,678,762. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. The company has a market capitalization of $279.23 billion, a PE ratio of 15.71, a PEG ratio of 1.77 and a beta of 0.17. The business's 50-day moving average is $115.61 and its two-hundred day moving average is $117.96. 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 company also recently declared a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's dividend payout ratio (DPR) is currently 12.75%.

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.