First Washington CORP Increases Position in Alibaba Group Holding Limited $BABA

Key Points

• First Washington CORP boosted its Alibaba stake by 48.2% in the first quarter, adding 22,112 shares and bringing its total to 68,013 shares valued at about $8.53 million.
• Several other institutional investors also increased or initiated positions in Alibaba, and hedge funds and other institutions now own about 13.47% of the stock.
• Insider selling was notable, with President J. Michael Evans selling 720,000 shares and insiders selling 920,303 shares over the last quarter, even as analysts keep a Moderate Buy consensus and highlight Alibaba’s AI progress.

First Washington CORP raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 48.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,013 shares of the specialty retailer's stock after buying an additional 22,112 shares during the quarter. Alibaba Group comprises about 2.4% of First Washington CORP's investment portfolio, making the stock its 11th biggest holding. First Washington CORP's holdings in Alibaba Group were worth $8,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Hoey Investments Inc. raised its stake in shares of Alibaba Group by 95.2% in the first quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Alibaba Group in the fourth quarter worth approximately $34,000. Palisade Asset Management LLC purchased a new position in shares of Alibaba Group during the third quarter valued at approximately $37,000. Palladiem LLC bought a new position in Alibaba Group during the fourth quarter valued at approximately $38,000. Finally, SJS Investment Consulting Inc. lifted its position in Alibaba Group by 15,000.0% during the first quarter. SJS Investment Consulting Inc. now owns 302 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 300 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Fang Jiang sold 4,898 shares of the firm's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $12.09, for a total transaction of $59,216.82. Following the sale, the insider directly owned 5,559,511 shares in the company, valued at $67,214,487.99. This trade represents a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President J. Michael Evans sold 720,000 shares of Alibaba Group stock in a transaction on Monday, June 29th. The shares were sold at an average price of $94.95, for a total transaction of $68,364,000.00. Following the transaction, the president owned 28,000 shares in the company, valued at approximately $2,658,600. This trade represents a 96.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 920,303 shares of company stock valued at $70,796,370. Insiders own 12.50% of the company's stock.

Alibaba Group Stock Down 2.1%

NYSE BABA opened at $114.09 on Friday. The stock's 50-day moving average price is $114.86 and its 200-day moving average price is $134.23. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. Alibaba Group Holding Limited has a 52 week low of $91.99 and a 52 week high of $192.67. The company has a market capitalization of $273.49 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 2.15 and a beta of 0.51.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The specialty retailer reported $0.01 earnings per share for the quarter. The firm had revenue of $35.30 billion for the quarter. Alibaba Group had a return on equity of 4.76% and a net margin of 10.31%. On average, equities research analysts predict that Alibaba Group Holding Limited will post 6.28 earnings per share for the current year.

Alibaba Group Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 11th were given a $1.05 dividend. This represents a dividend yield of 93.0%. The ex-dividend date was Thursday, June 11th. Alibaba Group's dividend payout ratio is presently 16.91%.

Wall Street Analyst Weigh In

A number of research firms have commented on BABA. Wall Street Zen raised shares of Alibaba Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Freedom Capital raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 24th. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Susquehanna increased their target price on Alibaba Group from $170.00 to $185.00 and gave the company a "positive" rating in a report on Friday, May 15th. Finally, Barclays raised their target price on Alibaba Group from $186.00 to $195.00 and gave the stock an "overweight" rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $186.90.

Alibaba Group News Summary

Here are the key news stories impacting Alibaba Group this week:

• Positive Sentiment: Alibaba’s AI efforts got another boost after a unit said its “5-in-1” AI system can give robots a unified brain, body, and limbs, reinforcing the company’s push into next-generation robotics and applied AI. Article
• Positive Sentiment: Investor sentiment may also be supported by news that Alibaba’s Qwen model will power Apple Intelligence features in China, a meaningful commercialization milestone for its AI platform. Article
• Positive Sentiment: Analysts and market commentators continue to highlight Alibaba’s steady AI progress, suggesting the company is building credibility as a competitive AI player. Article
• Neutral Sentiment: Alibaba-backed AGTech signed a technical services agreement to build a trading platform for the Hong Kong Gold Exchange, a business-development update with limited direct near-term impact on BABA. Article
• Negative Sentiment: Multiple law firms launched or expanded securities-class-action investigations into Alibaba, alleging possible misleading disclosures, which can add legal uncertainty and pressure the shares. Article
• Negative Sentiment: Separate investor alerts from Rosen and Pomerantz may keep litigation concerns in focus and contribute to the stock’s underperformance versus the broader market. Article

About Alibaba Group

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.