Federated Hermes Inc. Has $13.26 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Federated Hermes Inc. reduced its stake in Alibaba Group by 19.8%, now holding 100,253 shares valued at approximately $13.26 million following the sale of 24,725 shares in the first quarter.
• Institutions like Mirae Asset and Renaissance Technologies significantly increased their holdings in Alibaba, with Mirae growing its stake by 3,214.5% in the same quarter.
• The average market response to Alibaba Group's stock shows a consensus rating of "Moderate Buy" with a price target averaging around $153.29.

Federated Hermes Inc. lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,253 shares of the specialty retailer's stock after selling 24,725 shares during the period. Federated Hermes Inc.'s holdings in Alibaba Group were worth $13,256,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Alibaba Group by 208.5% in 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 in the last quarter. Janus Henderson Group PLC increased its holdings in Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. Polunin Capital Partners Ltd increased its holdings in Alibaba Group by 218.1% in the 1st quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock worth $175,221,000 after purchasing an additional 908,544 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Alibaba Group in the 4th quarter worth about $73,727,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

BABA has been the subject of several recent research reports. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Citigroup decreased their price target 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. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $117.06 on Friday. The company has a market cap of $279.23 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.77 and a beta of 0.17. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The business has a 50 day moving average price of $115.61 and a 200-day moving average price of $117.96. 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 business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's dividend payout ratio is 12.75%.

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.

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