B. Riley Wealth Advisors Inc. lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,294 shares of the specialty retailer's stock after selling 5,240 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Alibaba Group were worth $2,060,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in BABA. Appaloosa LP raised its position in Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Norges Bank bought a new position in Alibaba Group in the 4th quarter valued at $585,479,000. Bank of America Corp DE increased its stake in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after buying an additional 438,537 shares during the period. Fisher Asset Management LLC raised its position in shares of Alibaba Group by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after acquiring an additional 78,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alibaba Group by 19.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after acquiring an additional 752,275 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on BABA shares. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their target price for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Barclays raised their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Benchmark cut their price target on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Bank of America lifted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Alibaba Group has a consensus rating of "Buy" and a consensus target price of $154.21.
Check Out Our Latest Report on BABA
Alibaba Group Stock Performance
Shares of Alibaba Group stock traded down $3.64 on Friday, hitting $113.54. The stock had a trading volume of 12,001,703 shares, compared to its average volume of 19,968,039. The stock has a market cap of $270.89 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The business's 50 day moving average is $120.01 and its two-hundred day moving average is $108.65. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43.
Alibaba Group Cuts Dividend
The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio is 13.83%.
Alibaba Group Profile
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Free Report)
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.
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