Primecap Management Co. CA reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,623,697 shares of the specialty retailer's stock after selling 1,331,410 shares during the period. Alibaba Group accounts for 2.3% of Primecap Management Co. CA's portfolio, making the stock its 9th biggest holding. Primecap Management Co. CA owned 0.86% of Alibaba Group worth $2,727,071,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Hazlett Burt & Watson Inc. lifted its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Alibaba Group in the first quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group in the first quarter worth about $31,000. Valley National Advisers Inc. boosted its stake in shares of Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after buying an additional 161 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group during the first quarter worth approximately $35,000. Institutional investors own 13.47% of the company's stock.
Alibaba Group Stock Performance
NYSE:BABA opened at $116.97 on Wednesday. Alibaba Group Holding Limited has a 12-month low of $76.51 and a 12-month high of $148.43. The firm has a 50-day moving average price of $115.49 and a 200 day moving average price of $118.67. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $279.01 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.17.
Alibaba Group Cuts Dividend
The business also recently announced a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio is presently 12.75%.
Wall Street Analyst Weigh In
Several research firms have issued reports on BABA. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Citigroup reduced their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of "Moderate Buy" and a consensus price target of $153.29.
Get Our Latest Stock Analysis on Alibaba Group
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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