China Universal Asset Management Co. Ltd. Invests $2.20 Million in Alibaba Group Holding Limited (NYSE:BABA)

China Universal Asset Management Co. Ltd. acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,619 shares of the specialty retailer's stock, valued at approximately $2,198,000.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after acquiring an additional 981 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Alibaba Group by 96.0% during the fourth quarter. Bank of New York Mellon Corp now owns 172,748 shares of the specialty retailer's stock worth $14,647,000 after acquiring an additional 84,604 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $1,063,000. Assetmark Inc. increased its position in shares of Alibaba Group by 3,405.5% during the fourth quarter. Assetmark Inc. now owns 13,917 shares of the specialty retailer's stock worth $1,180,000 after acquiring an additional 13,520 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alibaba Group in the fourth quarter valued at about $1,189,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 3.4%

NYSE:BABA traded down $3.64 during trading hours on Wednesday, hitting $104.35. 8,986,338 shares of the stock traded hands, compared to its average volume of 19,944,100. The firm has a 50 day moving average price of $118.73 and a 200 day moving average price of $114.15. 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 fifty-two week low of $73.87 and a fifty-two week high of $148.43. The firm has a market cap of $249.01 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.46 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. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is currently 13.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BABA. Citigroup lowered their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Mizuho reduced their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently 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.