Bulltick Wealth Management LLC Sells 2,112 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Bulltick Wealth Management LLC reduced its stake in Alibaba Group by 41.0% in the first quarter, owning 3,041 shares worth $402,000 following the sale of 2,112 shares.
• Alibaba announced a dividend of $0.95 per share, resulting in a yield of 80.0% and a payout ratio of 12.75%.
• Despite recent fluctuations, the stock has a consensus rating of "Moderate Buy" with an average price target of $153.29 from analysts.

Bulltick Wealth Management LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 41.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,041 shares of the specialty retailer's stock after selling 2,112 shares during the period. Bulltick Wealth Management LLC's holdings in Alibaba Group were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Accent Capital Management LLC raised its stake in Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after buying an additional 82 shares during the period. Greenleaf Trust raised its stake in Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after buying an additional 85 shares during the period. Marcum Wealth LLC raised its stake in Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after buying an additional 86 shares during the period. Principal Securities Inc. raised its stake in Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after buying an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Bank of America dropped their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Robert W. Baird dropped their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note 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's stock. According to data from MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average price target of $153.29.

Alibaba Group Stock Down 3.6%

Shares of NYSE BABA traded down $4.57 during mid-day trading on Thursday, hitting $122.29. The company had a trading volume of 14,964,184 shares, compared to its average volume of 21,450,193. The company has a market capitalization of $291.63 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.80 and a beta of 0.17. The firm has a 50-day simple moving average of $116.15 and a two-hundred day simple moving average of $119.91. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $77.74 and a one 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 was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

About Alibaba Group

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.