Cedar Wealth Management LLC Sells 4,991 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Cedar Wealth Management LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 51.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,664 shares of the specialty retailer's stock after selling 4,991 shares during the quarter. Cedar Wealth Management LLC's holdings in Alibaba Group were worth $617,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after acquiring an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alibaba Group by 19.5% in the 4th 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 acquiring an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Alibaba Group by 1.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock valued at $337,377,000 after acquiring an additional 44,901 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $117.06 on Friday. The company's 50-day moving average is $115.61 and its 200 day moving average is $118.20. 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 company has a market capitalization of $279.23 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.17. Alibaba Group Holding Limited has a fifty-two week low of $73.87 and a fifty-two week high of $148.43.

Alibaba Group Cuts Dividend

The business also recently declared a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were issued a $0.95 dividend. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's payout ratio is 12.75%.

Analyst Upgrades and Downgrades

BABA has been the subject of several research reports. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Finally, Arete downgraded shares of 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. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $153.29.

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.

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