Fragasso Financial Advisors Inc Has $821,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Fragasso Financial Advisors Inc lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 80.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,206 shares of the specialty retailer's stock after selling 25,091 shares during the period. Fragasso Financial Advisors Inc's holdings in Alibaba Group were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in Alibaba Group in the fourth quarter valued at approximately $585,479,000. Renaissance Technologies LLC grew its stake in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. Appaloosa LP grew its stake in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC grew its stake in Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd grew its stake in Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after purchasing an additional 908,544 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

NYSE BABA traded up $4.56 during midday trading on Wednesday, hitting $119.53. The company had a trading volume of 18,081,113 shares, compared to its average volume of 19,976,247. The company has a market capitalization of $285.17 billion, a PE ratio of 17.27, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $118.88 and a 200-day moving average price of $109.28. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is presently 13.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BABA shares. JPMorgan Chase & Co. raised their price target on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Barclays increased their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Bank of America increased their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $154.21.

Alibaba Group Company Profile

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.