AlphaStar Capital Management LLC Sells 11,001 Shares of Alibaba Group Holding Limited (NYSE:BABA)

AlphaStar Capital Management LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Alibaba Group during the first quarter worth $31,000. Inlight Wealth Management LLC purchased a new position in Alibaba Group in the first quarter worth $31,000. Valley National Advisers Inc. boosted its position in Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 161 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group in the first quarter worth $35,000. Finally, ORG Partners LLC boosted its position in 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 purchasing an additional 285 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research analyst reports. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. Finally, Mizuho cut 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 investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $153.13.

Alibaba Group Price Performance

BABA traded up $0.08 during trading on Friday, reaching $106.72. 10,755,903 shares of the company were exchanged, compared to its average volume of 19,997,623. The company's 50-day moving average is $117.76 and its two-hundred day moving average is $114.38. The company has a market cap of $254.66 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 0.46 and a beta of 0.21. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $73.87 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is 12.75%.

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.