Alibaba Group Holding Limited (NYSE:BABA) is Ramirez Asset Management Inc.'s 5th Largest Position

Key Points

• Ramirez Asset Management Inc. has reduced its stake in Alibaba Group by 4.2%, making Alibaba its 5th largest position, worth approximately $10.2 million.
• Several hedge funds, including WCM Investment Management, have recently made new investments in Alibaba Group, with institutional investors owning 13.47% of the stock.
• Alibaba Group's current stock price is around $122.19, with a market capitalization of $291.47 billion and a consensus rating of "Moderate Buy."

Ramirez Asset Management Inc. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,322 shares of the specialty retailer's stock after selling 3,406 shares during the quarter. Alibaba Group makes up 2.1% of Ramirez Asset Management Inc.'s investment portfolio, making the stock its 5th largest holding. Ramirez Asset Management Inc.'s holdings in Alibaba Group were worth $10,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in shares of Alibaba Group during the 1st quarter valued at $8,212,000. Wincap Financial LLC increased its position in shares of Alibaba Group by 45.5% during the 1st quarter. Wincap Financial LLC now owns 10,347 shares of the specialty retailer's stock valued at $1,368,000 after purchasing an additional 3,236 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Alibaba Group by 7.4% during the 1st quarter. Foundations Investment Advisors LLC now owns 166,944 shares of the specialty retailer's stock worth $22,075,000 after acquiring an additional 11,504 shares during the period. Maridea Wealth Management LLC increased its holdings in Alibaba Group by 43.6% in the 1st quarter. Maridea Wealth Management LLC now owns 9,803 shares of the specialty retailer's stock worth $1,296,000 after acquiring an additional 2,978 shares during the last quarter. Finally, Lazard Freres Gestion S.A.S. bought a new stake in Alibaba Group in the 1st quarter valued at about $291,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research reports. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a research note on Tuesday, June 24th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Barclays lowered their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Citigroup decreased their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Stock Performance

Shares of NYSE BABA traded down $3.55 during trading on Friday, hitting $117.08. The company had a trading volume of 9,008,699 shares, compared to its average volume of 22,048,305. The stock has a 50 day simple moving average of $115.68 and a 200 day simple moving average of $117.71. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43. The firm has a market capitalization of $279.27 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.21.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) 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.