AI Squared Management Ltd Sells 75,337 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• AI Squared Management Ltd has significantly reduced its stake in Alibaba Group by 67.5%, now holding 36,300 shares valued at approximately $4.8 million, making it the firm's 7th largest position.
• Several hedge funds, including Accent Capital Management and Greenleaf Trust, have recently adjusted their positions in Alibaba Group, with institutional investors owning about 13.47% of the stock.
• Analyst ratings for Alibaba Group are mixed, with three analysts giving a hold rating, while thirteen provide a buy rating, leading to a current average rating of "Moderate Buy" and a consensus price target of $153.29.

AI Squared Management Ltd lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 67.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,300 shares of the specialty retailer's stock after selling 75,337 shares during the quarter. Alibaba Group accounts for approximately 4.5% of AI Squared Management Ltd's holdings, making the stock its 7th biggest holding. AI Squared Management Ltd's holdings in Alibaba Group were worth $4,800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. WCM Investment Management LLC bought a new stake in shares of Alibaba Group during the 1st quarter valued at about $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group in the 1st quarter worth about $1,948,000. Avaii Wealth Management LLC bought a new position in Alibaba Group in the 1st quarter worth about $563,000. Fiduciary Alliance LLC grew its position in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after purchasing an additional 18,230 shares during the last quarter. Finally, Summa Corp. grew its position in Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock worth $9,477,000 after purchasing an additional 16,000 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Mizuho decreased their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Stock Down 0.5%

Alibaba Group stock traded down $0.62 during trading hours on Friday, hitting $120.34. The company had a trading volume of 9,749,766 shares, compared to its average volume of 13,689,386. The firm has a market capitalization of $287.05 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.77 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm's fifty day moving average is $115.78 and its 200-day moving average is $119.40. Alibaba Group Holding Limited has a fifty-two week low of $77.74 and a fifty-two week 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%.

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.