Harel Insurance Investments & Financial Services Ltd. Lowers Position in Alibaba Group Holding Limited (NYSE:BABA)

Harel Insurance Investments & Financial Services Ltd. reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 99.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,090 shares of the specialty retailer's stock after selling 445,641 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Alibaba Group were worth $409,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Berkshire Asset Management LLC PA acquired a new stake in shares of Alibaba Group in the 4th quarter valued at about $911,000. WCM Investment Management LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $1,948,000. Avaii Wealth Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $563,000. Finally, Fiduciary Alliance LLC grew its position in 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. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

BABA has been the subject of a number of analyst reports. Benchmark reduced their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Finally, Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and a consensus price target of $154.13.

Alibaba Group Price Performance

BABA traded down $2.37 during trading on Monday, reaching $106.33. 17,375,569 shares of the company were exchanged, compared to its average volume of 19,982,605. The company's 50-day moving average is $118.95 and its two-hundred day moving average is $114.20. The company has a market cap of $253.73 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.47 and a beta of 0.22. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $72.95 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued 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 payout ratio is 13.83%.

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.