D.A. Davidson & CO. grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 248.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,763 shares of the specialty retailer's stock after purchasing an additional 9,814 shares during the quarter. D.A. Davidson & CO.'s holdings in Alibaba Group were worth $1,820,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. WCM Investment Management LLC purchased a new position in shares of Alibaba Group in the first quarter worth $4,074,000. KMG Fiduciary Partners LLC bought a new stake in Alibaba Group in the 1st quarter valued at $1,948,000. Avaii Wealth Management LLC purchased a new stake in Alibaba Group in the 1st quarter worth $563,000. Fiduciary Alliance LLC boosted its holdings in shares of Alibaba Group by 18.3% during the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the last quarter. Finally, Summa Corp. grew its position in shares of Alibaba Group by 28.7% during the first quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock valued at $9,477,000 after purchasing an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report 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 report on Tuesday, April 8th. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Finally, Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $153.13.
Read Our Latest Analysis on Alibaba Group
Alibaba Group Stock Performance
Alibaba Group stock traded up $0.08 during trading hours on Friday, hitting $106.72. 10,755,903 shares of the stock traded hands, compared to its average volume of 19,997,623. 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 50 day moving average price is $118.14 and its 200-day moving average price is $114.23. The stock has a market capitalization of $254.66 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 0.46 and a beta of 0.21. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43.
Alibaba Group Cuts Dividend
The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.
About Alibaba Group
(
Free Report)
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.
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