Allspring Global Investments Holdings LLC Decreases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Allspring Global Investments Holdings LLC cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,623,901 shares of the specialty retailer's stock after selling 256,048 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Alibaba Group worth $215,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BABA. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group in the first quarter worth about $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $31,000. ORG Partners LLC grew its stake in shares of Alibaba Group by 950.0% in the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 285 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings 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 valued at $46,000 after purchasing an additional 200 shares during the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 0.2%

BABA stock traded up $0.18 during trading on Friday, reaching $114.11. 12,343,000 shares of the company traded hands, compared to its average volume of 19,968,758. The company has a market capitalization of $272.13 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. The business has a 50 day simple moving average of $119.76 and a 200 day simple moving average of $112.82. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55.

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 paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BABA shares. Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Robert W. Baird dropped their price target 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. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a report on Tuesday. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Mizuho decreased their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.13.

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.