RWC Asset Management LLP Sells 30,178 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• RWC Asset Management LLP decreased its stake in Alibaba Group by 14.0%, holding 184,940 shares valued at approximately $24.5 million, making it the firm's 27th largest investment.
• Several institutional investors have increased their positions in Alibaba, with Mirae Asset Global Investments raising its stake by an astonishing 3,214.5% during the first quarter.
• Analysts maintain a consensus rating of "Moderate Buy" for Alibaba shares, with a consensus target price of $153.29, despite some price target downgrades from various firms.

RWC Asset Management LLP decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,940 shares of the specialty retailer's stock after selling 30,178 shares during the quarter. Alibaba Group accounts for approximately 1.3% of RWC Asset Management LLP's holdings, making the stock its 27th biggest position. RWC Asset Management LLP's holdings in Alibaba Group were worth $24,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. increased its holdings in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Alibaba Group in the first quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new position in Alibaba Group in the first quarter worth approximately $31,000. Valley National Advisers Inc. increased its holdings in Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after buying an additional 161 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Alibaba Group in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE:BABA traded up $2.16 during trading hours on Monday, reaching $122.19. The company had a trading volume of 11,166,661 shares, compared to its average volume of 14,385,750. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $291.47 billion, a PE ratio of 14.44, a PEG ratio of 1.77 and a beta of 0.22. The stock has a 50-day moving average of $115.96 and a two-hundred day moving average of $117.13. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's payout ratio is 12.75%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a report on Tuesday, June 24th. Citigroup dropped their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Mizuho dropped their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group 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.