BOCHK Asset Management Ltd Takes $489,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

BOCHK Asset Management Ltd acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,700 shares of the specialty retailer's stock, valued at approximately $489,000. Alibaba Group accounts for 0.3% of BOCHK Asset Management Ltd's portfolio, making the stock its 20th largest position.

A number of other large investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in Alibaba Group by 4.2% during the first quarter. Envestnet Asset Management Inc. now owns 419,468 shares of the specialty retailer's stock worth $55,466,000 after purchasing an additional 16,960 shares during the last quarter. Penserra Capital Management LLC increased its position in Alibaba Group by 43.2% during the first quarter. Penserra Capital Management LLC now owns 186,610 shares of the specialty retailer's stock worth $24,674,000 after purchasing an additional 56,294 shares during the last quarter. Traveka Wealth LLC increased its position in Alibaba Group by 49.6% during the first quarter. Traveka Wealth LLC now owns 3,784 shares of the specialty retailer's stock worth $500,000 after purchasing an additional 1,255 shares during the last quarter. Cloud Capital Management LLC acquired a new stake in Alibaba Group during the first quarter worth about $81,000. Finally, Viewpoint Capital Management LLC increased its position in Alibaba Group by 3.9% during the first quarter. Viewpoint Capital Management LLC now owns 3,894 shares of the specialty retailer's stock worth $515,000 after purchasing an additional 145 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Down 3.7%

Alibaba Group stock traded down $4.02 during trading on Wednesday, reaching $103.97. The stock had a trading volume of 13,947,891 shares, compared to its average volume of 19,961,467. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. The business has a 50 day moving average price of $118.73 and a 200 day moving average price of $114.15. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market cap of $248.09 billion, a PE ratio of 13.96, a P/E/G ratio of 0.46 and a beta of 0.22.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued 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 payout ratio is currently 13.83%.

Analyst Ratings Changes

Several brokerages have weighed in on BABA. Robert W. Baird lowered their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup lowered their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Benchmark lowered their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $154.13.

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.