Clarity Capital Partners LLC Sells 4,814 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Clarity Capital Partners LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 73.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,769 shares of the specialty retailer's stock after selling 4,814 shares during the period. Clarity Capital Partners LLC's holdings in Alibaba Group were worth $234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. Brighton Jones LLC boosted its position in Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after buying an additional 981 shares during the period. Bank of New York Mellon Corp boosted its position in 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 valued at $14,647,000 after buying an additional 84,604 shares during the period. US Bancorp DE boosted its position in Alibaba Group by 47.2% during the fourth quarter. US Bancorp DE now owns 46,018 shares of the specialty retailer's stock valued at $3,902,000 after buying an additional 14,752 shares during the period. SRS Capital Advisors Inc. boosted its position in Alibaba Group by 2,459.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the specialty retailer's stock valued at $217,000 after buying an additional 2,459 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Alibaba Group by 37.2% during the fourth quarter. Jones Financial Companies Lllp now owns 22,438 shares of the specialty retailer's stock valued at $1,903,000 after buying an additional 6,081 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BABA. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho cut their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Robert W. Baird cut their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus price target of $154.13.

Alibaba Group Trading Down 1.8%

BABA stock traded down $2.04 during trading on Friday, reaching $108.67. The company had a trading volume of 11,847,157 shares, compared to its average volume of 19,992,757. Alibaba Group Holding Limited has a 52 week low of $72.95 and a 52 week high of $148.43. The company has a market cap of $259.31 billion, a P/E ratio of 14.59, a PEG ratio of 0.47 and a beta of 0.22. The business has a 50 day moving average of $119.19 and a 200 day moving average of $113.62. 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 Cuts Dividend

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

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.