GFG Capital LLC Has $6.02 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

GFG Capital LLC lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 30.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,544 shares of the specialty retailer's stock after selling 19,596 shares during the quarter. Alibaba Group makes up approximately 1.8% of GFG Capital LLC's investment portfolio, making the stock its 16th largest position. GFG Capital LLC's holdings in Alibaba Group were worth $6,022,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Alibaba Group during the 4th quarter worth approximately $585,479,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the last quarter. Appaloosa LP raised its holdings in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after purchasing an additional 1,030,999 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of BABA stock opened at $107.97 on Wednesday. The firm has a market cap of $257.64 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 0.46 and a beta of 0.22. 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 52 week low of $73.87 and a 52 week high of $148.43. The firm's 50-day simple moving average is $118.73 and its two-hundred day simple moving average is $114.15.

Alibaba Group Cuts Dividend

The firm also recently declared 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 dividend payout ratio (DPR) is currently 13.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BABA. Citigroup lowered their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Benchmark lowered their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Finally, Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $154.13.

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.

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