3,700 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by BOCHK Asset Management Ltd

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

A number of other hedge funds also recently modified their holdings of BABA. Brighton Jones LLC boosted its holdings in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after buying an additional 981 shares during the period. Bank of New York Mellon Corp boosted its stake in Alibaba Group by 96.0% in the 4th quarter. Bank of New York Mellon Corp now owns 172,748 shares of the specialty retailer's stock worth $14,647,000 after purchasing an additional 84,604 shares during the period. Victory Capital Management Inc. acquired a new position in Alibaba Group in the 4th quarter worth $1,063,000. Assetmark Inc. boosted its stake in Alibaba Group by 3,405.5% in the 4th quarter. Assetmark Inc. now owns 13,917 shares of the specialty retailer's stock worth $1,180,000 after purchasing an additional 13,520 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Alibaba Group by 1.2% in the 4th quarter. Atria Investments Inc now owns 35,191 shares of the specialty retailer's stock valued at $2,984,000 after purchasing an additional 414 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

BABA has been the subject of a number of research reports. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Benchmark reduced their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report 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. Finally, Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded up $2.78 on Thursday, reaching $106.61. 13,380,056 shares of the company's stock were exchanged, compared to its average volume of 19,998,088. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $73.87 and a twelve month high of $148.43. The company has a fifty day moving average of $118.42 and a 200-day moving average of $114.09. The company has a market capitalization of $254.40 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.47 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 $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is presently 13.83%.

Alibaba Group Company 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.