Douglas Lane & Associates LLC Cuts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Douglas Lane & Associates LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 67.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,644 shares of the specialty retailer's stock after selling 56,624 shares during the period. Douglas Lane & Associates LLC's holdings in Alibaba Group were worth $3,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Polunin Capital Partners Ltd grew its holdings in shares of Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock worth $175,221,000 after purchasing an additional 908,544 shares during the last quarter. JTC Employer Solutions Trustee Ltd boosted its position in Alibaba Group by 19.9% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 13,170 shares of the specialty retailer's stock valued at $1,739,000 after buying an additional 2,184 shares during the period. Hardin Capital Partners LLC grew its holdings in Alibaba Group by 4.0% in the 1st quarter. Hardin Capital Partners LLC now owns 6,024 shares of the specialty retailer's stock worth $797,000 after acquiring an additional 230 shares during the last quarter. Meyer Handelman Co. purchased a new position in shares of Alibaba Group in the first quarter valued at about $264,000. Finally, GAMMA Investing LLC raised its stake in shares of Alibaba Group by 13,483.0% during the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock valued at $2,640,000 after acquiring an additional 19,820 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Up 0.2%

BABA traded up $0.26 during midday trading on Tuesday, reaching $115.01. The company's stock had a trading volume of 13,963,483 shares, compared to its average volume of 19,960,936. The stock's 50-day moving average is $119.29 and its 200-day moving average is $109.24. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The firm has a market capitalization of $274.38 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.61 and a beta of 0.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given 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 (DPR) is presently 13.83%.

Analysts Set New Price Targets

Several research firms recently issued reports on BABA. Arete Research raised Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Benchmark dropped their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Citigroup reduced 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 report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of "Buy" and an average price target of $154.21.

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.