Atria Wealth Solutions Inc. Acquires 5,398 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Atria Wealth Solutions Inc. boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,656 shares of the specialty retailer's stock after purchasing an additional 5,398 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Alibaba Group were worth $5,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BABA. WCM Investment Management LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $4,074,000. KMG Fiduciary Partners LLC acquired a new position in shares of Alibaba Group in the first quarter valued at about $1,948,000. Avaii Wealth Management LLC bought a new position in Alibaba Group during the first quarter worth about $563,000. Fiduciary Alliance LLC raised its stake in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after purchasing an additional 18,230 shares in the last quarter. Finally, Summa Corp. boosted its holdings in Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock valued at $9,477,000 after purchasing an additional 16,000 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird lowered their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Mizuho reduced their price target 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. Barclays dropped their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Finally, Bank of America decreased their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Trading Down 0.5%

BABA traded down $0.62 during trading on Friday, reaching $120.34. 9,749,766 shares of the company's stock were exchanged, compared to its average volume of 21,634,346. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $77.74 and a one year high of $148.43. The firm has a fifty day moving average price of $115.65 and a two-hundred day moving average price of $118.93. The stock has a market capitalization of $287.05 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.17.

Alibaba Group Cuts Dividend

The business also recently declared a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a $0.95 dividend. This represents a dividend yield of 80.0%. The ex-dividend date was Thursday, June 12th. Alibaba Group's payout ratio is 12.75%.

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.