Greykasell Wealth Strategies Inc. Purchases New Shares in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Greykasell Wealth Strategies Inc. acquired 2,326 shares of Alibaba Group, valued at approximately $308,000, in the first quarter.
• Institutional ownership of Alibaba Group stands at 13.47%, with multiple hedge funds increasing their positions significantly in the same period.
• Several investment analysts have rated Alibaba with a consensus of "Moderate Buy" and an average target price of $153.29, despite recent price adjustments from various firms.

Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,326 shares of the specialty retailer's stock, valued at approximately $308,000.

A number of other large investors have also recently modified their holdings of BABA. Hazlett Burt & Watson Inc. raised its holdings 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 valued at $27,000 after buying an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $31,000. Inlight Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $31,000. Valley National Advisers Inc. raised its holdings 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 valued at $35,000 after buying an additional 161 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group during the 1st quarter valued at about $35,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 0.0%

Shares of NYSE BABA traded up $0.02 during mid-day trading on Thursday, hitting $120.88. 9,458,767 shares of the stock traded hands, compared to its average volume of 13,893,078. 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 $77.74 and a 52 week high of $148.43. The company has a market cap of $288.35 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.78 and a beta of 0.17. The stock has a fifty day moving average price of $115.65 and a 200-day moving average price of $118.93.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's payout ratio is currently 12.75%.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Robert W. Baird decreased their price target 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. Bank of America decreased their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a research note on Tuesday, June 24th. Finally, Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group 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.