Fairtree Asset Management Pty Ltd acquired a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 57,568 shares of the specialty retailer's stock, valued at approximately $4,881,000. Alibaba Group accounts for approximately 4.7% of Fairtree Asset Management Pty Ltd's investment portfolio, making the stock its 5th biggest position.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings 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 acquiring an additional 981 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $232,000. PFG Investments LLC raised its holdings in shares of Alibaba Group by 17.9% during the fourth quarter. PFG Investments LLC now owns 10,718 shares of the specialty retailer's stock valued at $909,000 after buying an additional 1,625 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Alibaba Group during the fourth quarter worth approximately $235,000. Finally, Blue Trust Inc. grew its holdings in Alibaba Group by 42.6% in the 4th quarter. Blue Trust Inc. now owns 19,830 shares of the specialty retailer's stock worth $1,681,000 after buying an additional 5,927 shares in the last quarter. Institutional investors own 13.47% of the company's stock.
Alibaba Group Trading Down 2.8%
Shares of NYSE:BABA traded down $3.29 during midday trading on Friday, reaching $113.89. The company had a trading volume of 17,187,371 shares, compared to its average volume of 20,012,201. The company has a fifty day simple moving average of $119.64 and a two-hundred day simple moving average of $108.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $271.72 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43.
Alibaba Group Cuts Dividend
The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is currently 13.83%.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Bank of America boosted their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Benchmark lowered their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Robert W. Baird reduced 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alibaba Group has an average rating of "Buy" and an average target price of $154.21.
Check Out Our Latest Research Report on BABA
About Alibaba Group
(
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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