Alibaba Group Holding Limited (NYSE:BABA) Holdings Trimmed by Meritage Portfolio Management

Meritage Portfolio Management lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 183,262 shares of the specialty retailer's stock after selling 3,485 shares during the period. Alibaba Group accounts for approximately 1.6% of Meritage Portfolio Management's portfolio, making the stock its 8th biggest position. Meritage Portfolio Management's holdings in Alibaba Group were worth $24,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group in the 1st quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth approximately $31,000. Valley National Advisers Inc. increased its holdings in Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Alibaba Group in the first quarter valued at approximately $35,000. Finally, ORG Partners LLC lifted its stake in Alibaba Group by 950.0% during the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 285 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

NYSE BABA traded down $2.04 on Thursday, reaching $108.67. The stock had a trading volume of 11,847,157 shares, compared to its average volume of 19,972,500. 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 stock has a market cap of $259.31 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. The business's 50-day moving average price is $119.63 and its 200 day moving average price is $113.32. Alibaba Group Holding Limited has a 12-month low of $72.95 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared 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 of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 13.83%.

Analyst Ratings Changes

BABA has been the subject of a number of recent research reports. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Citigroup dropped their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Benchmark cut their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $154.13.

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.