Alberta Investment Management Corp Has $50.03 Million 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 raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after acquiring an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Alibaba Group by 1.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after acquiring an additional 44,901 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Robert W. Baird reduced 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. Citigroup reduced their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average price target of $153.29.

Alibaba Group Stock Up 0.4%

Shares of Alibaba Group stock traded up $0.45 during midday trading on Monday, hitting $117.52. The company's stock had a trading volume of 5,081,899 shares, compared to its average volume of 21,955,572. The stock has a 50-day simple moving average of $115.61 and a 200-day simple moving average of $118.45. The firm has a market capitalization of $280.33 billion, a P/E ratio of 15.77, a PEG ratio of 1.72 and a beta of 0.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's dividend payout ratio is 12.75%.

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.