Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 39.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,175 shares of the specialty retailer's stock after selling 11,001 shares during the quarter. AlphaStar Capital Management LLC's holdings in Alibaba Group were worth $2,271,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Marcum Wealth LLC boosted its position in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares in the last quarter. Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% in the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after buying an additional 93 shares during the last quarter. Rings Capital Management LLC boosted its holdings in Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after acquiring an additional 100 shares in the last quarter. HM Payson & Co. grew its stake in shares of Alibaba Group by 41.7% during the first quarter. HM Payson & Co. now owns 340 shares of the specialty retailer's stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Global Endowment Management LP increased its holdings in shares of 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 acquiring an additional 106 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of recent analyst reports. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Citigroup reduced their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Price Performance

Shares of NYSE:BABA traded down $3.71 during midday trading on Wednesday, hitting $104.28. The company's stock had a trading volume of 24,510,536 shares, compared to its average volume of 20,024,541. Alibaba Group Holding Limited has a 12-month low of $73.87 and a 12-month high of $148.43. The company has a market cap of $248.84 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. 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 business's 50 day simple moving average is $118.42 and its 200 day simple moving average is $114.09.

Alibaba Group Cuts Dividend

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