Private Management Group Inc. Sells 24,700 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Private Management Group Inc. reduced its stake in Alibaba Group by 8.7%, bringing its total shares to 259,337, which represents 1.2% of its investment portfolio.
• Several institutional investors increased their holdings in Alibaba, with Brighton Jones LLC expanding its stake by 40.4% in the last quarter.
• Alibaba's stock currently has an average rating of "Moderate Buy" with an average price target of $150.80 following recent analyst upgrades and downgrades.

Private Management Group Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 259,337 shares of the specialty retailer's stock after selling 24,700 shares during the period. Alibaba Group accounts for about 1.2% of Private Management Group Inc.'s holdings, making the stock its 18th largest holding. Private Management Group Inc.'s holdings in Alibaba Group were worth $34,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares during the period. Xponance Inc. raised its holdings in Alibaba Group by 4.5% in the 4th quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer's stock worth $230,000 after purchasing an additional 116 shares during the period. Congress Wealth Management LLC DE raised its holdings in Alibaba Group by 2.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,325 shares of the specialty retailer's stock worth $536,000 after purchasing an additional 141 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Alibaba Group by 113.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 43,000 shares of the specialty retailer's stock worth $3,646,000 after purchasing an additional 22,900 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Alibaba Group by 16.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 190,873 shares of the specialty retailer's stock worth $16,184,000 after purchasing an additional 26,935 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 0.9%

NYSE BABA traded down $1.11 during trading on Friday, hitting $120.05. The stock had a trading volume of 7,032,735 shares, compared to its average volume of 14,650,496. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $286.43 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.78 and a beta of 0.21. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The stock has a 50 day simple moving average of $115.96 and a 200 day simple moving average of $116.67.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's payout ratio is currently 12.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BABA shares. Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Citigroup cut their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Barclays cut their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $150.80.

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.