Toronto Dominion Bank Purchases 561,492 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Toronto Dominion Bank raised its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 89,409.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 562,120 shares of the specialty retailer's stock after acquiring an additional 561,492 shares during the quarter. Toronto Dominion Bank's holdings in Alibaba Group were worth $47,662,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Appaloosa LP lifted its stake in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after buying an additional 1,843,158 shares during the last quarter. Norges Bank acquired a new stake in shares of Alibaba Group in the fourth quarter worth $585,479,000. Bank of America Corp DE lifted its stake in shares of Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after buying an additional 438,537 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Alibaba Group by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after buying an additional 78,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after buying an additional 752,275 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Citigroup cut their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Benchmark cut their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Robert W. Baird cut their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $154.21.

Alibaba Group Price Performance

Shares of BABA traded down $3.85 during trading hours on Friday, hitting $113.33. The stock had a trading volume of 10,442,865 shares, compared to its average volume of 19,964,223. The company's fifty day moving average is $120.01 and its two-hundred day moving average is $108.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The stock has a market capitalization of $270.39 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The business also recently disclosed 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 dividend payout ratio is currently 13.83%.

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.