Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 56.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,975 shares of the specialty retailer's stock after selling 6,475 shares during the period. Redwood Wealth Management Group LLC's holdings in Alibaba Group were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marcum Wealth LLC lifted its position in shares of Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares during the last quarter. Rings Capital Management LLC lifted its holdings 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 in 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 last quarter. Finally, Global Endowment Management LP grew its holdings in shares of Alibaba Group by 1.4% during the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after buying an additional 106 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BABA. Citigroup decreased their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Mizuho lowered their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, Wall Street Zen raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $154.21.

Alibaba Group Price Performance

BABA stock opened at $113.38 on Thursday. 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 1.55 and a debt-to-equity ratio of 0.19. The stock 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 business has a fifty day moving average of $119.05 and a two-hundred day moving average of $111.51.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Shareholders 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 (DPR) is presently 13.83%.

Alibaba Group Company 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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