Alterna Wealth Management Inc. Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Alterna Wealth Management Inc. purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,673 shares of the specialty retailer's stock, valued at approximately $353,000.

Several other large investors also recently bought and sold shares of BABA. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group during the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC purchased a new position in Alibaba Group during the 1st quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in Alibaba Group during the 4th quarter worth approximately $32,000. Valley National Advisers Inc. grew its stake in Alibaba Group by 151.9% during the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after buying an additional 161 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent research reports. Bank of America increased their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Citigroup decreased their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company 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, May 16th. Robert W. Baird decreased their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Arete Research raised Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Price Performance

Shares of BABA traded up $0.54 during mid-day trading on Thursday, hitting $119.99. The company's stock had a trading volume of 15,323,946 shares, compared to its average volume of 20,019,774. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $118.62 and a 200 day simple moving average of $109.35. The firm has a market capitalization of $286.26 billion, a P/E ratio of 17.34, a P/E/G ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43.

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 $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's payout ratio is currently 13.83%.

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.