Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 62.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 470,179 shares of the specialty retailer's stock after selling 798,117 shares during the quarter. Alibaba Group accounts for about 2.1% of ARGA Investment Management LP's portfolio, making the stock its 15th biggest holding. ARGA Investment Management LP's holdings in Alibaba Group were worth $62,172,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Inlight Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Valley National Advisers Inc. raised its holdings in shares of Alibaba Group by 151.9% during 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 purchased a new position in shares of Alibaba Group during the 1st quarter worth $35,000. Finally, ORG Partners LLC raised its holdings in shares of Alibaba Group by 950.0% during the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Robert W. Baird reduced their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Benchmark reduced their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $106.33 on Tuesday. Alibaba Group Holding Limited has a one year low of $72.95 and a one year high of $148.43. The company has a market cap of $253.73 billion, a PE ratio of 14.27, a P/E/G ratio of 0.47 and a beta of 0.22. 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 business has a 50-day simple moving average of $118.95 and a 200-day simple moving average of $114.20.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid 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 payout ratio is 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.

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