BOCHK Asset Management Ltd Makes New $489,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

BOCHK Asset Management Ltd acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,700 shares of the specialty retailer's stock, valued at approximately $489,000. Alibaba Group makes up approximately 0.3% of BOCHK Asset Management Ltd's portfolio, making the stock its 20th biggest position.

Several other large investors also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group in the first quarter worth $31,000. Bruce G. Allen Investments LLC acquired a new position in Alibaba Group during the 1st quarter worth $31,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Alibaba Group in the 1st quarter worth about $35,000. Valley National Advisers Inc. raised its stake in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 161 shares in the last quarter. Finally, ORG Partners LLC lifted its position in shares of Alibaba Group by 950.0% during the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 285 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BABA shares. Benchmark cut their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Citigroup reduced their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Stock Performance

Shares of BABA traded down $2.37 during mid-day trading on Monday, reaching $106.33. 17,375,569 shares of the company's stock traded hands, compared to its average volume of 19,982,413. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The business's 50-day moving average price is $119.19 and its 200-day moving average price is $114.03. The stock has a market capitalization of $253.73 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. Alibaba Group Holding Limited has a 12 month low of $72.95 and a 12 month high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

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.