Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,722 shares of the specialty retailer's stock after selling 120,478 shares during the period. Alibaba Group makes up 7.9% of WT Asset Management Ltd's holdings, making the stock its 4th biggest position. WT Asset Management Ltd's holdings in Alibaba Group were worth $67,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group during the first quarter worth about $31,000. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group during the 1st quarter worth approximately $31,000. Valley National Advisers Inc. boosted its position in shares of Alibaba Group by 151.9% during the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 161 shares in the last quarter. ORG Partners LLC raised its position in Alibaba Group by 950.0% during the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 285 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its position in Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.8%

Shares of NYSE:BABA traded down $2.02 during mid-day trading on Thursday, reaching $108.69. 11,816,714 shares of the company's stock were exchanged, compared to its average volume of 23,157,256. 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 twelve month low of $72.95 and a twelve month high of $148.43. The firm has a market capitalization of $259.36 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.49 and a beta of 0.22. The business's fifty day moving average price is $119.63 and its 200-day moving average price is $113.32.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's payout ratio is presently 13.83%.

Wall Street Analyst Weigh In

BABA has been the topic of several recent analyst reports. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Benchmark dropped their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Robert W. Baird decreased their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $154.13.

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.