Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 18.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,673 shares of the specialty retailer's stock after selling 3,903 shares during the quarter. Means Investment CO. Inc.'s holdings in Alibaba Group were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BABA. Berkshire Asset Management LLC PA bought a new stake in Alibaba Group in the 4th quarter valued at about $911,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $1,948,000. Bailard Inc. boosted its position in shares of Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after buying an additional 3,242 shares during the period. Fiduciary Alliance LLC grew its holdings in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after buying an additional 18,230 shares in the last quarter. Finally, Avaii Wealth Management LLC bought a new position in Alibaba Group in the 1st quarter worth approximately $563,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BABA. Benchmark reduced their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Citigroup reduced their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $154.21.

Alibaba Group Trading Down 1.4%

Alibaba Group stock opened at $113.38 on Friday. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The firm's 50 day moving average price is $119.24 and its two-hundred day moving average price is $111.70. The firm has a market cap of $270.44 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth 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 1.48 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 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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