BOCHK Asset Management Ltd Purchases New Stake in Alibaba Group Holding Limited (NYSE:BABA)

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

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

Alibaba Group Stock Performance

NYSE:BABA traded up $1.70 on Tuesday, hitting $107.97. The company's stock had a trading volume of 11,267,680 shares, compared to its average volume of 19,984,172. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The stock has a fifty day moving average of $118.95 and a two-hundred day moving average of $114.20. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $257.64 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's payout ratio is 13.83%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BABA shares. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a report on Tuesday, June 24th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.