Premier Fund Managers Ltd Lowers Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Premier Fund Managers Ltd reduced its stake in Alibaba Group by 11.4%, selling 7,500 shares and now holding 58,200 shares worth approximately $7.7 million.
• Notable changes among other investors include Hazlett Burt & Watson Inc. increasing its position by 1,960%, while several firms established new positions in Alibaba during the first quarter.
• Analyst ratings for Alibaba are mixed, with Arete downgrading the stock from "buy" to "neutral," and an average price target now set at approximately $153.29.

Premier Fund Managers Ltd cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,200 shares of the specialty retailer's stock after selling 7,500 shares during the period. Premier Fund Managers Ltd's holdings in Alibaba Group were worth $7,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE grew its position in 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 purchasing an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Alibaba Group by 19.5% in 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 worth $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Alibaba Group by 1.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after purchasing an additional 44,901 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

NYSE BABA traded down $3.67 on Friday, hitting $116.96. The stock had a trading volume of 9,889,289 shares, compared to its average volume of 22,053,199. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $278.99 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.73 and a beta of 0.21. The firm has a 50-day moving average of $115.68 and a 200-day moving average of $117.71.

Alibaba Group Cuts Dividend

The company also recently announced a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Mizuho dropped their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note 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 on the stock. in a research note on Tuesday, June 24th. Robert W. Baird dropped their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group 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.