Udine Wealth Management Inc. Sells 8,392 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Udine Wealth Management Inc. lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,788 shares of the specialty retailer's stock after selling 8,392 shares during the period. Alibaba Group makes up 1.4% of Udine Wealth Management Inc.'s investment portfolio, making the stock its 21st largest position. Udine Wealth Management Inc.'s holdings in Alibaba Group were worth $2,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Marcum Wealth LLC raised its holdings in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after buying an additional 86 shares in the last quarter. Rings Capital Management LLC raised its holdings in shares of Alibaba Group by 1.4% during the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock valued at $602,000 after buying an additional 100 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Alibaba Group by 3.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after buying an additional 101 shares in the last quarter. Global Endowment Management LP raised its holdings in shares of Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after buying an additional 106 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 0.4%

Shares of BABA stock traded down $0.48 during trading hours on Friday, reaching $119.48. The company's stock had a trading volume of 9,718,988 shares, compared to its average volume of 20,013,927. The stock has a market capitalization of $285.08 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.61 and a beta of 0.22. Alibaba Group Holding Limited has a one year low of $71.80 and a one year high of $148.43. The firm's fifty day simple moving average is $118.11 and its 200 day simple moving average is $109.78. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is currently 13.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Bank of America raised their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Finally, Citigroup reduced 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. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $154.21.

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.