Crossmark Global Holdings Inc. lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,972 shares of the specialty retailer's stock after selling 3,043 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Alibaba Group were worth $16,525,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC bought a new position in shares of Alibaba Group during the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC bought a new position in shares of Alibaba Group during the first quarter valued at approximately $1,948,000. Avaii Wealth Management LLC bought a new position in Alibaba Group in the 1st quarter worth approximately $563,000. Fiduciary Alliance LLC grew its holdings in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after buying an additional 18,230 shares in the last quarter. Finally, Summa Corp. grew its holdings in Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock worth $9,477,000 after buying an additional 16,000 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Benchmark cut their price target on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average target price of $154.13.
Read Our Latest Stock Analysis on BABA
Alibaba Group Stock Down 2.2%
Shares of BABA traded down $2.37 during mid-day trading on Monday, reaching $106.33. The company's stock had a trading volume of 17,375,569 shares, compared to its average volume of 19,982,455. The business has a fifty day moving average of $119.19 and a 200 day moving average of $114.03. The company has a market cap of $253.73 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. Alibaba Group Holding Limited has a 1 year low of $72.95 and a 1 year high of $148.43. The company has a quick ratio of 1.55, a current 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 will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's payout ratio is currently 13.83%.
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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