Financial Sense Advisors Inc. Sells 2,463 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Financial Sense Advisors Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 29.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,949 shares of the specialty retailer's stock after selling 2,463 shares during the period. Financial Sense Advisors Inc.'s holdings in Alibaba Group were worth $787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Greenleaf Trust grew its holdings in Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares during the period. Marcum Wealth LLC grew its holdings in Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after acquiring an additional 86 shares during the period. Principal Securities Inc. grew its holdings in Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after acquiring an additional 89 shares during the period. Institute for Wealth Management LLC. grew its holdings in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after acquiring an additional 93 shares during the period. Finally, Rings Capital Management LLC grew its holdings in Alibaba Group by 1.4% during the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BABA. Bank of America cut their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Robert W. Baird decreased their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $150.80.

Alibaba Group Stock Down 1.0%

NYSE BABA traded down $1.24 on Thursday, reaching $121.34. The company had a trading volume of 9,845,488 shares, compared to its average volume of 22,504,887. The firm has a market capitalization of $289.52 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43. The company's fifty day moving average is $116.07 and its 200-day moving average is $116.18.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's payout ratio is presently 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.