Maridea Wealth Management LLC Purchases 2,978 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Maridea Wealth Management LLC increased its stake in Alibaba Group by 43.6%, acquiring a total of 9,803 shares valued at approximately $1.296 million.
• Several institutional investors, including Bank of America and Mirae Asset Global Investments, have also significantly increased their holdings in Alibaba, indicating growing institutional confidence in the company.
• Analysts have mixed views on Alibaba's stock, with recent price targets varying from $145 to $176 and a consensus rating of "Moderate Buy."

Maridea Wealth Management LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 43.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,803 shares of the specialty retailer's stock after buying an additional 2,978 shares during the quarter. Maridea Wealth Management LLC's holdings in Alibaba Group were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $291,000. Nkcfo LLC grew its holdings in shares of Alibaba Group by 815.0% during the 1st quarter. Nkcfo LLC now owns 18,300 shares of the specialty retailer's stock worth $2,420,000 after purchasing an additional 16,300 shares in the last quarter. Wealthstream Advisors Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $208,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $214,000. Finally, one8zero8 LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $264,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BABA. Bank of America decreased their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird decreased their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Price Performance

Shares of NYSE:BABA traded up $3.09 during midday trading on Thursday, reaching $120.47. The company's stock had a trading volume of 8,982,092 shares, compared to its average volume of 22,106,666. 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 market capitalization of $287.37 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.76 and a beta of 0.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The business's fifty day simple moving average is $115.70 and its 200-day simple moving average is $117.44.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

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.