Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. increased its investment in Alibaba Group by 15.7%, acquiring an additional 2,181 shares to hold a total of 16,098 shares valued at approximately $2.13 million.
• Several institutional investors significantly increased their holdings in Alibaba, with Mirae Asset Global Investments boosting its stake by 3,214.5% during the first quarter alone.
• Following recent analyst reports, Alibaba's price target has varied, with Mizuho lowering it to $160, while Morgan Stanley set a target at $180, reflecting a mixed outlook from analysts.

Assetmark Inc. grew its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 15.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,098 shares of the specialty retailer's stock after acquiring an additional 2,181 shares during the quarter. Assetmark Inc.'s holdings in Alibaba Group were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth $31,000. Valley National Advisers Inc. lifted its stake in shares of 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 purchasing an additional 161 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Alibaba Group during the 1st quarter worth $35,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Up 2.7%

Alibaba Group stock traded up $3.22 during trading on Thursday, reaching $120.60. 13,605,588 shares of the company were exchanged, compared to its average volume of 14,588,597. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. The company has a market capitalization of $287.68 billion, a P/E ratio of 16.19, a PEG ratio of 1.73 and a beta of 0.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The stock's 50 day simple moving average is $115.68 and its two-hundred day simple moving average is $117.71.

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 given a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BABA. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Mizuho decreased their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Robert W. Baird decreased 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. Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Finally, Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.