Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,432 shares of the specialty retailer's stock after selling 2,626 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Alibaba Group were worth $851,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BABA. Brighton Jones LLC increased its holdings in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after buying an additional 981 shares during the last quarter. Rhumbline Advisers grew its position in shares of Alibaba Group by 0.7% in the 4th quarter. Rhumbline Advisers now owns 22,246 shares of the specialty retailer's stock worth $1,886,000 after acquiring an additional 154 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Alibaba Group by 1,504.7% in the 4th quarter. Rothschild Investment LLC now owns 1,717 shares of the specialty retailer's stock valued at $146,000 after acquiring an additional 1,610 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Alibaba Group by 96.0% during the 4th quarter. Bank of New York Mellon Corp now owns 172,748 shares of the specialty retailer's stock valued at $14,647,000 after acquiring an additional 84,604 shares in the last quarter. Finally, Denali Advisors LLC raised its position in shares of Alibaba Group by 38.2% during the 4th quarter. Denali Advisors LLC now owns 7,167 shares of the specialty retailer's stock valued at $608,000 after acquiring an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on BABA shares. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup lowered their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Benchmark decreased their target price 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, Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.
Check Out Our Latest Report on Alibaba Group
Alibaba Group Stock Performance
Shares of BABA stock opened at $114.50 on Thursday. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. The firm has a market capitalization of $273.06 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.49 and a beta of 0.22. The business has a 50 day simple moving average of $119.56 and a 200 day simple moving average of $112.50.
Alibaba Group Cuts Dividend
The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is presently 13.83%.
Alibaba Group Company Profile
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Free Report)
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.
Further Reading
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