Victory Capital Management Inc. Buys 3,233 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Victory Capital Management Inc. has increased its stake in Alibaba Group by 25.8%, acquiring an additional 3,233 shares, bringing its total to 15,770 shares valued at approximately $2.1 million.
• Several hedge funds, including Bank of America and UBS AM, have also enhanced their positions in Alibaba, indicating strong institutional interest in the company.
• Alibaba's stock recently had a 1.8% increase, trading at $122.19 with a consensus price target of $153.29 among analysts.

Victory Capital Management Inc. raised its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,770 shares of the specialty retailer's stock after buying an additional 3,233 shares during the period. Victory Capital Management Inc.'s holdings in Alibaba Group were worth $2,085,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at approximately $31,000. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group in the 1st quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group in the 1st quarter valued at approximately $35,000. Valley National Advisers Inc. grew its stake in Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after buying an additional 161 shares in the last quarter. Finally, ORG Partners LLC grew its stake in Alibaba Group by 950.0% in the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BABA shares. Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company 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. Barclays reduced their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Trading Down 2.8%

Alibaba Group stock traded down $3.33 during mid-day trading on Friday, hitting $117.30. The company's stock had a trading volume of 7,308,193 shares, compared to its average volume of 22,035,486. 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 has a market cap of $279.80 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.21. The business has a 50 day moving average price of $115.68 and a 200-day moving average price of $117.71. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43.

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 given a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's payout ratio is presently 12.75%.

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.