Contravisory Investment Management Inc. Acquires Shares of 2,450 Alibaba Group Holding Limited (NYSE:BABA)

Contravisory Investment Management Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,450 shares of the specialty retailer's stock, valued at approximately $324,000.

Several other institutional investors have also added to or reduced their stakes in BABA. Marcum Wealth LLC raised its holdings in shares of Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares during the last quarter. Rings Capital Management LLC grew its position in Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares during the period. Lindbrook Capital LLC raised its stake in Alibaba Group by 3.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after buying an additional 101 shares during the last quarter. Global Endowment Management LP raised its stake in Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after buying an additional 106 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after buying an additional 108 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded up $0.54 on Thursday, hitting $119.99. 15,323,946 shares of the company traded hands, compared to its average volume of 20,019,774. The stock has a market capitalization of $286.26 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The business has a 50-day simple moving average of $118.62 and a 200 day simple moving average of $109.35. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given 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 dividend payout ratio is presently 13.83%.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research analyst reports. Citigroup cut 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. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho reduced 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. Bank of America raised their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $154.21.

Alibaba Group 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.