Handelsbanken Fonder AB reduced its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 749,556 shares of the specialty retailer's stock after selling 73,348 shares during the period. Handelsbanken Fonder AB's holdings in Alibaba Group were worth $99,114,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in BABA. Berkshire Asset Management LLC PA acquired a new stake in Alibaba Group during the 4th quarter worth $911,000. KMG Fiduciary Partners LLC acquired a new stake in shares of Alibaba Group in the 1st quarter valued at about $1,948,000. Bailard Inc. raised its stake in shares of Alibaba Group by 46.3% in the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after purchasing an additional 3,242 shares during the period. Fiduciary Alliance LLC raised its stake in shares of Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the period. Finally, TrueWealth Advisors LLC acquired a new stake in shares of Alibaba Group in the 1st quarter valued at about $421,000. 13.47% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BABA has been the topic of several recent research reports. Arete Research raised Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Barclays lifted their target price on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Mizuho lowered their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Citigroup lowered their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $154.21.
View Our Latest Stock Report on BABA
Alibaba Group Stock Performance
Shares of NYSE:BABA traded down $1.58 during trading on Wednesday, reaching $120.30. 10,412,086 shares of the stock were exchanged, compared to its average volume of 20,001,850. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month high of $148.43. The firm has a market cap of $287.04 billion, a PE ratio of 17.38, a PEG ratio of 0.61 and a beta of 0.22. The stock has a 50-day moving average price of $117.79 and a 200-day moving average price of $110.46. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.
Alibaba Group Cuts Dividend
The business also recently declared 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 is Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 13.83%.
Alibaba Group Profile
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Free Report)
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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