Goodman Advisory Group LLC Purchases Shares of 7,399 Alibaba Group Holding Limited (NYSE:BABA)

Goodman Advisory Group LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,399 shares of the specialty retailer's stock, valued at approximately $978,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alibaba Group in the 4th quarter valued at $585,479,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% in 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 acquiring an additional 4,246,564 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Alibaba Group by 208.5% in the 4th 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 during the period. Appaloosa LP boosted its position in shares of Alibaba Group by 18.4% during the 4th 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. Finally, Janus Henderson Group PLC grew its stake 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 purchasing an additional 1,030,999 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE BABA traded down $1.51 on Monday, hitting $112.57. The stock had a trading volume of 3,979,015 shares, compared to its average volume of 19,944,452. The company has a market capitalization of $268.62 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a 52-week low of $71.97 and a 52-week high of $148.43. The firm has a 50-day moving average of $119.76 and a 200-day moving average of $113.15. 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 Cuts Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on BABA. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a report on Tuesday, June 24th. Robert W. Baird cut their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Mizuho reduced their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average 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.