Fortis Group Advisors LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 24,466.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,633 shares of the specialty retailer's stock after purchasing an additional 6,606 shares during the quarter. Fortis Group Advisors LLC's holdings in Alibaba Group were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Alibaba Group during the 4th quarter worth $585,479,000. Bank of America Corp DE boosted its position in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after buying an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after acquiring an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position in Alibaba Group by 1.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after acquiring an additional 44,901 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.
Analysts Set New Price Targets
BABA has been the subject of a number of research reports. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Barclays cut their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday. Mizuho cut their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research report on Tuesday, June 24th. Finally, Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $150.80.
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Alibaba Group Trading Up 2.5%
Shares of NYSE BABA traded up $2.92 on Friday, reaching $120.22. 26,729,940 shares of the company traded hands, compared to its average volume of 20,130,225. Alibaba Group Holding Limited has a fifty-two week low of $73.87 and a fifty-two week high of $148.43. The company has a 50 day moving average of $116.86 and a 200 day moving average of $115.19. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $286.85 billion, a PE ratio of 16.14, a P/E/G ratio of 1.70 and a beta of 0.21.
Alibaba Group Cuts Dividend
The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.
About Alibaba Group
(
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.
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