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Cerity Partners LLC Sells 188,137 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Alibaba Group logo with Retail/Wholesale background

Cerity Partners LLC reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 43.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,040 shares of the specialty retailer's stock after selling 188,137 shares during the quarter. Cerity Partners LLC's holdings in Alibaba Group were worth $32,269,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Round Rock Advisors LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at approximately $211,000. Nisa Investment Advisors LLC lifted its stake in shares of Alibaba Group by 10.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,050 shares of the specialty retailer's stock valued at $139,000 after buying an additional 100 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Alibaba Group by 13.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,970 shares of the specialty retailer's stock valued at $1,054,000 after buying an additional 931 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after buying an additional 89 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after buying an additional 85 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of NYSE:BABA traded up $0.08 during trading on Friday, reaching $106.72. The company had a trading volume of 10,755,903 shares, compared to its average volume of 20,017,973. The company has a fifty day moving average of $117.76 and a two-hundred day moving average of $114.58. The stock has a market capitalization of $254.66 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.46 and a beta of 0.21. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43. 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 Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were issued a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 12.75%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BABA. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Mizuho lowered their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock 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. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research note on Tuesday, June 24th. Finally, Wall Street Zen cut shares of 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 given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $153.13.

Check Out Our Latest Stock Report on BABA

Alibaba Group Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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