GFG Capital LLC Sells 19,596 Shares of Alibaba Group Holding Limited (NYSE:BABA)

GFG Capital LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 30.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,544 shares of the specialty retailer's stock after selling 19,596 shares during the period. Alibaba Group accounts for approximately 1.8% of GFG Capital LLC's holdings, making the stock its 16th largest holding. GFG Capital LLC's holdings in Alibaba Group were worth $6,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Alibaba Group in the 4th quarter valued at about $585,479,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. Appaloosa LP raised its holdings in Alibaba Group by 18.4% during the fourth 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 in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after acquiring an additional 1,030,999 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock traded up $2.59 on Thursday, hitting $106.42. The stock had a trading volume of 8,094,008 shares, compared to its average volume of 19,979,354. Alibaba Group Holding Limited has a twelve month low of $73.87 and a twelve month high of $148.43. The business's 50 day moving average is $118.42 and its two-hundred day moving average is $114.09. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market cap of $253.94 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's payout ratio is 13.83%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a report on Tuesday, June 24th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Loop Capital set a $176.00 target price on Alibaba Group 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 research note on Friday, May 16th. Finally, Benchmark dropped their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Three 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.13.

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.