Hi Line Capital Management LLC boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,042 shares of the specialty retailer's stock after purchasing an additional 10,858 shares during the period. Alibaba Group accounts for approximately 3.6% of Hi Line Capital Management LLC's portfolio, making the stock its 9th biggest position. Hi Line Capital Management LLC's holdings in Alibaba Group were worth $9,658,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bluesphere Advisors LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at about $762,000. Legacy Advisors LLC raised its position in Alibaba Group by 1.8% during the first quarter. Legacy Advisors LLC now owns 11,185 shares of the specialty retailer's stock valued at $1,479,000 after acquiring an additional 202 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $272,000. Oppenheimer Asset Management Inc. grew its position in Alibaba Group by 15.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 55,014 shares of the specialty retailer's stock worth $7,275,000 after acquiring an additional 7,314 shares in the last quarter. Finally, Pursue Wealth Partners LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth $388,000. Hedge funds and other institutional investors own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Benchmark decreased their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Finally, Wall Street Zen upgraded Alibaba Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of "Buy" and an average target price of $154.21.
Get Our Latest Analysis on BABA
Alibaba Group Stock Up 0.0%
Shares of BABA opened at $113.04 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55. The company has a 50-day simple moving average of $119.32 and a 200-day simple moving average of $112.46. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The firm has a market capitalization of $269.58 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.46 and a beta of 0.22.
Alibaba Group Cuts Dividend
The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is 13.83%.
About Alibaba Group
(
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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