Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,468 shares of the specialty retailer's stock after acquiring an additional 16,960 shares during the period. Envestnet Asset Management Inc.'s holdings in Alibaba Group were worth $55,466,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new position in Alibaba Group during the 1st quarter worth $31,000. Inlight Wealth Management LLC bought a new position in shares of Alibaba Group during the first quarter worth about $31,000. Valley National Advisers Inc. increased its holdings in shares of Alibaba Group by 151.9% in 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 during the period. LFA Lugano Financial Advisors SA acquired a new position in Alibaba Group during the 1st quarter valued at about $35,000. Finally, ORG Partners LLC grew its position in Alibaba Group by 950.0% in the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 285 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark reduced their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Mizuho lowered their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research 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. Citigroup lowered their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and an average price target of $153.13.

Alibaba Group Trading Up 0.1%

NYSE:BABA opened at $106.72 on Friday. The stock has a market cap of $254.66 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.46 and a beta of 0.21. Alibaba Group Holding Limited has a fifty-two week low of $73.87 and a fifty-two week high of $148.43. 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 stock's 50-day moving average is $117.76 and its two-hundred day moving average is $114.38.

Alibaba Group Cuts Dividend

The company 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. This represents a dividend yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 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.

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