FFG Partners LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 49,888 shares of the specialty retailer's stock, valued at approximately $6,597,000. Alibaba Group comprises approximately 2.7% of FFG Partners LLC's portfolio, making the stock its 15th biggest holding.
A number of other institutional investors have also added to or reduced their stakes in the business. Appaloosa LP lifted its holdings in shares of 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 acquiring an additional 1,843,158 shares during the last quarter. Norges Bank purchased a new stake in Alibaba Group during the fourth quarter valued at about $585,479,000. Bank of America Corp DE lifted its stake in Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Alibaba Group by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after purchasing an additional 78,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after purchasing an additional 752,275 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BABA has been the topic of a number of research reports. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Mizuho reduced their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Citigroup reduced their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $154.13.
View Our Latest Analysis on Alibaba Group
Alibaba Group Trading Down 0.5%
Alibaba Group stock traded down $0.52 during trading hours on Thursday, reaching $114.03. The stock had a trading volume of 2,887,546 shares, compared to its average volume of 23,590,965. The company has a fifty day simple moving average of $119.56 and a 200-day simple moving average of $112.50. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The stock has a market cap of $271.95 billion, a PE ratio of 15.31, a PEG ratio of 0.49 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48.
Alibaba Group Cuts Dividend
The firm also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's payout ratio is presently 13.83%.
Alibaba Group Company Profile
(
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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