Baker Avenue Asset Management LP Has $15.07 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Baker Avenue Asset Management LP has decreased its holdings in Alibaba Group by 8.2%, selling 10,130 shares during the first quarter, leaving them with 113,987 shares valued at approximately $15.07 million.
• Several hedge funds have also entered new positions or increased their stakes in Alibaba, indicating ongoing institutional interest; institutional investors collectively own 13.47% of the stock.
• Alibaba's stock recently traded at $120.60, with a market cap of $287.68 billion, amid various analyst ratings varying from "hold" to "buy", with a consensus price target of $153.29.

Baker Avenue Asset Management LP lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,987 shares of the specialty retailer's stock after selling 10,130 shares during the quarter. Baker Avenue Asset Management LP's holdings in Alibaba Group were worth $15,073,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BABA. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares during the period. Trivest Advisors Ltd acquired a new position in Alibaba Group during the first quarter valued at approximately $295,270,000. Renaissance Technologies LLC lifted its stake in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after buying an additional 2,024,640 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after buying an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd lifted its stake in Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after buying an additional 908,544 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research reports. Robert W. Baird cut their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a research note on Tuesday, June 24th. Mizuho cut their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Stock Down 3.0%

Shares of BABA stock traded down $3.57 during trading on Friday, reaching $117.06. The company's stock had a trading volume of 12,191,248 shares, compared to its average volume of 14,678,762. The company has a market cap of $279.23 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.77 and a beta of 0.17. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The business has a fifty day moving average price of $115.61 and a 200-day moving average price of $117.96. 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 Cuts Dividend

The company also recently announced 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. This represents a yield of 80.0%. The ex-dividend date was Thursday, June 12th. Alibaba Group's payout ratio is presently 12.75%.

About Alibaba Group

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.