Formidable Asset Management LLC Increases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Formidable Asset Management LLC increased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,059 shares of the specialty retailer's stock after acquiring an additional 4,360 shares during the period. Alibaba Group comprises approximately 0.7% of Formidable Asset Management LLC's portfolio, making the stock its 24th biggest holding. Formidable Asset Management LLC's holdings in Alibaba Group were worth $4,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BABA. Bruce G. Allen Investments LLC bought a new stake in Alibaba Group in the first quarter worth about $31,000. Inlight Wealth Management LLC bought a new position in shares of Alibaba Group during the 1st quarter valued at approximately $31,000. Valley National Advisers Inc. increased its stake in shares of Alibaba Group by 151.9% during the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 161 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in shares of Alibaba Group during the 1st quarter worth approximately $35,000. Finally, ORG Partners LLC raised its holdings in shares of Alibaba Group by 950.0% in the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after purchasing an additional 285 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho dropped their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Robert W. Baird dropped their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Benchmark lowered their price target on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Barclays reduced their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.80.

Alibaba Group Stock Up 2.5%

Shares of Alibaba Group stock traded up $2.92 during trading on Friday, hitting $120.22. The company's stock had a trading volume of 26,729,940 shares, compared to its average volume of 20,216,618. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company has a fifty day simple moving average of $116.76 and a two-hundred day simple moving average of $115.65. The company has a market capitalization of $286.85 billion, a PE ratio of 16.14, a P/E/G ratio of 1.77 and a beta of 0.21.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) 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.