E Fund Management Co. Ltd. Buys New Stake in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• E Fund Management Co. Ltd. has acquired 7,904 shares of Alibaba Group, valued at approximately $1,045,000, marking a new stake for the investment firm in the company during the first quarter.
• Alibaba has recently announced a $0.95 dividend with a yield of 80.0%, and the company’s payout ratio stands at 12.75%.
• Analysts have varying opinions on Alibaba's stock, with price targets ranging from $145.00 to $176.00 and a consensus rating of "Moderate Buy."

E Fund Management Co. Ltd. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 7,904 shares of the specialty retailer's stock, valued at approximately $1,045,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of BABA. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after buying an additional 981 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Alibaba Group by 6.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 149,957 shares of the specialty retailer's stock worth $12,715,000 after buying an additional 8,601 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in shares of Alibaba Group in the 4th quarter worth $335,000. Advisors Capital Management LLC purchased a new position in shares of Alibaba Group in the 4th quarter worth $547,000. Finally, Synovus Financial Corp grew its stake in shares of Alibaba Group by 3.9% in the 4th quarter. Synovus Financial Corp now owns 5,747 shares of the specialty retailer's stock worth $487,000 after buying an additional 214 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 0.9%

Alibaba Group stock traded down $1.16 during trading hours on Friday, hitting $121.12. The company had a trading volume of 11,116,699 shares, compared to its average volume of 12,711,124. The company has a 50-day moving average price of $116.23 and a two-hundred day moving average price of $120.30. Alibaba Group Holding Limited has a 1 year low of $79.21 and a 1 year high of $148.43. The firm has a market cap of $288.85 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BABA. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barclays dropped their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Arete cut 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 note on Tuesday, June 24th. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Finally, Robert W. Baird dropped 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 note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $153.29.

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.