NTV Asset Management LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 62.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,258 shares of the specialty retailer's stock after buying an additional 2,408 shares during the quarter. NTV Asset Management LLC's holdings in Alibaba Group were worth $827,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $585,479,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the period. Renaissance Technologies LLC boosted its stake in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after buying an additional 2,024,640 shares in the last quarter. Appaloosa LP increased its holdings in Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after buying an additional 1,030,999 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BABA has been the topic of several recent research reports. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete cut 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. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Finally, Robert W. Baird lowered their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.13.
Get Our Latest Stock Report on BABA
Alibaba Group Price Performance
Shares of Alibaba Group stock traded up $0.08 during trading on Friday, reaching $106.72. The company's stock had a trading volume of 10,755,903 shares, compared to its average volume of 19,997,623. The stock has a 50-day moving average price of $117.76 and a two-hundred day moving average price of $114.38. The stock has a market capitalization of $254.66 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.46 and a beta of 0.21. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. 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 company also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is currently 12.75%.
Alibaba Group Company Profile
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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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