Formidable Asset Management LLC Has $2.43 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Formidable Asset Management LLC lessened its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 10.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,699 shares of the specialty retailer's stock after selling 3,374 shares during the period. Formidable Asset Management LLC's holdings in Alibaba Group were worth $2,433,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. 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 acquiring an additional 100 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Alibaba Group by 3.7% during the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after buying an additional 101 shares in the last quarter. Global Endowment Management LP lifted its stake in Alibaba Group by 1.4% during the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after buying an additional 106 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Alibaba Group by 3.6% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after buying an additional 108 shares in the last quarter. Finally, TBH Global Asset Management LLC lifted its stake in Alibaba Group by 2.4% during the fourth quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock valued at $407,000 after buying an additional 112 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on BABA shares. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Stock Down 1.0%

NYSE:BABA traded down $1.17 during mid-day trading on Tuesday, reaching $119.56. The stock had a trading volume of 8,477,519 shares, compared to its average volume of 20,036,952. The business's 50 day moving average is $121.08 and its 200 day moving average is $108.37. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The stock has a market cap of $285.24 billion, a P/E ratio of 17.28, a PEG ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is currently 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.