Exchange Traded Concepts LLC Has $7.88 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Exchange Traded Concepts LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 20.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 59,618 shares of the specialty retailer's stock after selling 15,189 shares during the period. Exchange Traded Concepts LLC's holdings in Alibaba Group were worth $7,883,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BABA. Norges Bank acquired a new position in Alibaba Group during the fourth quarter worth approximately $585,479,000. Renaissance Technologies LLC grew its holdings in shares of Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. Appaloosa LP increased its position in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after buying an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd lifted its position in Alibaba Group by 218.1% during the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after buying an additional 908,544 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 recently issued reports on BABA shares. Citigroup lowered their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Mizuho lowered their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Benchmark lowered their price target on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Buy" and a consensus price target of $154.21.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $3.08 during trading hours on Monday, reaching $115.95. The stock had a trading volume of 10,080,827 shares, compared to its average volume of 24,326,951. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. The company has a market cap of $276.65 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.61 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The business's fifty day moving average is $118.35 and its two-hundred day moving average is $111.27.

Alibaba Group Cuts Dividend

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