BluePointe Capital Management LLC Takes $354,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

BluePointe Capital Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,678 shares of the specialty retailer's stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BABA. Norges Bank purchased a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $585,479,000. Bank of America Corp DE boosted its stake in shares of Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alibaba Group by 19.5% in 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 valued at $390,885,000 after buying an additional 752,275 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 worth $578,992,000 after buying an additional 4,246,564 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in Alibaba Group by 1.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after purchasing an additional 44,901 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

BABA stock opened at $108.28 on Tuesday. The company has a market cap of $258.35 billion, a P/E ratio of 14.53, a PEG ratio of 0.49 and a beta of 0.22. 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 firm has a 50-day moving average of $117.39 and a 200 day moving average of $114.94. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43.

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 given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's payout ratio is 12.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BABA shares. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Citigroup dropped their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Mizuho dropped their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Benchmark cut their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.13.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.