Patriot Financial Group Insurance Agency LLC Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Patriot Financial Group Insurance Agency LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,264 shares of the specialty retailer's stock after selling 2,109 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Alibaba Group were worth $564,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Marcum Wealth LLC increased its position in Alibaba Group by 3.2% during the first 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. Rings Capital Management LLC raised its position in Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock valued at $602,000 after purchasing an additional 100 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Alibaba Group by 3.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after purchasing an additional 101 shares during the period. Global Endowment Management LP boosted its stake in Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 106 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded down $1.58 on Wednesday, hitting $120.30. The company's stock had a trading volume of 10,412,086 shares, compared to its average volume of 20,001,850. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $117.79 and a 200-day moving average price of $110.46. The company has a market capitalization of $287.04 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is currently 13.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BABA shares. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Benchmark cut their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Robert W. Baird reduced their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of "Buy" and an average price target of $154.21.

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.