CenterBook Partners LP Lowers Holdings in Alibaba Group Holding Limited (NYSE:BABA)

CenterBook Partners LP reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 63.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,558 shares of the specialty retailer's stock after selling 2,696 shares during the quarter. CenterBook Partners LP's holdings in Alibaba Group were worth $206,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BABA. Deutsche Bank AG increased its stake in shares of Alibaba Group by 34.8% in the first quarter. Deutsche Bank AG now owns 562,678 shares of the specialty retailer's stock valued at $74,403,000 after buying an additional 145,389 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in Alibaba Group in the 1st quarter valued at approximately $1,840,000. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter worth $26,000. Evolution Wealth Advisors LLC grew its stake in shares of Alibaba Group by 7.0% in the first quarter. Evolution Wealth Advisors LLC now owns 5,890 shares of the specialty retailer's stock worth $779,000 after purchasing an additional 385 shares during the last quarter. Finally, Wharton Business Group LLC acquired a new stake in Alibaba Group in the first quarter valued at $251,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Up 2.5%

NYSE BABA traded up $2.92 during trading hours on Friday, reaching $120.22. 26,729,940 shares of the company's stock traded hands, compared to its average volume of 20,216,618. The firm has a market cap of $286.85 billion, a PE ratio of 16.14, a PEG ratio of 1.77 and a beta of 0.21. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. The firm has a 50-day simple moving average of $116.76 and a 200 day simple moving average of $115.65.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is 12.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America reduced their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Benchmark decreased their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $150.80.

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.