Formidable Asset Management LLC lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,699 shares of the specialty retailer's stock after selling 3,374 shares during the quarter. Formidable Asset Management LLC's holdings in Alibaba Group were worth $2,433,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Alibaba Group in the fourth quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL boosted its position in shares of Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock worth $46,000 after buying an additional 200 shares during the period. Redwood Park Advisors LLC bought a new position in Alibaba Group in the 4th quarter worth approximately $52,000. Vision Financial Markets LLC acquired a new stake in Alibaba Group in the 4th quarter valued at approximately $55,000. Finally, Brown Shipley& Co Ltd boosted its position in Alibaba Group by 279.1% during the 4th quarter. Brown Shipley& Co Ltd now owns 652 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 480 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Benchmark reduced their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Arete Research raised Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Finally, 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. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Buy" and a consensus price target of $154.21.
Check Out Our Latest Stock Report on Alibaba Group
Alibaba Group Trading Down 1.9%
BABA traded down $2.32 during trading on Wednesday, reaching $117.20. The company had a trading volume of 5,888,823 shares, compared to its average volume of 19,981,830. The firm's 50-day simple moving average is $120.73 and its 200 day simple moving average is $108.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $279.62 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43.
Alibaba Group Cuts Dividend
The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.95 per share. 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%.
Alibaba Group Profile
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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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