Fairtree Asset Management Pty Ltd Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Fairtree Asset Management Pty Ltd bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,568 shares of the specialty retailer's stock, valued at approximately $4,881,000. Alibaba Group makes up 4.7% of Fairtree Asset Management Pty Ltd's investment portfolio, making the stock its 5th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Alibaba Group during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock valued at $46,000 after acquiring an additional 200 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in Alibaba Group during the 4th quarter worth about $52,000. Vision Financial Markets LLC acquired a new position in Alibaba Group in the 4th quarter valued at about $55,000. Finally, Brown Shipley& Co Ltd raised its stake in Alibaba Group by 279.1% in the 4th quarter. Brown Shipley& Co Ltd now owns 652 shares of the specialty retailer's stock valued at $55,000 after purchasing an additional 480 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Down 2.4%

Shares of NYSE:BABA traded down $2.86 during midday trading on Wednesday, hitting $116.66. 11,505,453 shares of the company's stock traded hands, compared to its average volume of 20,023,118. The firm's fifty day moving average price is $120.36 and its two-hundred day moving average price is $108.50. 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 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 $278.32 billion, a PE ratio of 16.86, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a dividend 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

Several research firms have issued reports on BABA. Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Bank of America increased their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Robert W. Baird decreased their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. One 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $154.21.

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.