Goldman Sachs Group Inc. Purchases 2,885,154 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6%, acquiring an additional 2,885,154 shares, bringing its total holdings to approximately 15.6 million shares valued at over $2 billion.
• Multiple hedge funds, including Brighton Jones LLC and Renaissance Technologies LLC, reported significant increases in their investments in Alibaba during the fourth quarter.
• Analysts have mixed views on Alibaba's stock, with a consensus rating of "Moderate Buy" and a target price averaging $153.29, despite recent price adjustments by some firms.

Goldman Sachs Group Inc. lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,648,064 shares of the specialty retailer's stock after buying an additional 2,885,154 shares during the period. Goldman Sachs Group Inc. owned about 0.66% of Alibaba Group worth $2,069,144,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BABA. Hazlett Burt & Watson Inc. boosted its position in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group in the 1st quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth 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. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Alibaba Group during the 1st quarter worth approximately $35,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America cut their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report on Tuesday, June 24th. Mizuho dropped their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Stock Performance

BABA traded up $0.02 during trading on Thursday, hitting $120.88. The company's stock had a trading volume of 9,458,767 shares, compared to its average volume of 13,893,078. The business's 50 day simple moving average is $115.65 and its 200-day simple moving average is $118.93. 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 firm has a market cap of $288.35 billion, a PE ratio of 16.23, a P/E/G ratio of 1.78 and a beta of 0.17. Alibaba Group Holding Limited has a one year low of $77.74 and a one year high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a $0.95 dividend. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 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.