Commonwealth Equity Services LLC Purchases 54,264 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Alibaba Group by 32.1%, totaling $29.53 million and 223,303 shares after purchasing an additional 54,264 shares in the first quarter.
• Institutional investors and hedge funds now own 13.47% of Alibaba’s stock, with Bank of America and Mirae Asset Global Investments among the firms increasing their stakes significantly.
• Analysts recently set new price targets for Alibaba, with most maintaining a "buy" rating, while the current average price target is $153.29 per share.

Commonwealth Equity Services LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,303 shares of the specialty retailer's stock after buying an additional 54,264 shares during the period. Commonwealth Equity Services LLC's holdings in Alibaba Group were worth $29,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in Alibaba Group in the first quarter worth $31,000. Bruce G. Allen Investments LLC bought a new position in shares of Alibaba Group during the first quarter worth $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Alibaba Group in the 1st quarter valued at $35,000. Finally, Valley National Advisers Inc. increased its position in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after buying an additional 161 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on BABA shares. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Bank of America cut their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Barclays dropped their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Stock Up 0.0%

Shares of Alibaba Group stock traded up $0.02 during trading hours on Thursday, reaching $120.88. 9,458,767 shares of the company's stock were exchanged, compared to its average volume of 13,893,078. The stock has a market cap of $288.35 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.78 and a beta of 0.17. The company has a 50 day moving average of $115.65 and a two-hundred day moving average of $118.93. 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 $77.74 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. Shareholders 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 dividend yield of 80.0%. Alibaba Group's payout ratio is 12.75%.

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.