ING Groep NV Buys 12,866 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• ING Groep NV significantly increased its stake in Alibaba Group by 481.2% during the first quarter, owning 15,540 shares worth $2,055,000.
• Several hedge funds are also increasing their holdings in Alibaba, with notable increases from Bank of America and UBS AM, indicating greater institutional interest in the company.
• Alibaba's stock is currently down 0.5%, with a recent market capitalization of $279.01 billion and a consensus target price of $153.29 from analysts.

ING Groep NV lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 481.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,540 shares of the specialty retailer's stock after buying an additional 12,866 shares during the quarter. ING Groep NV's holdings in Alibaba Group were worth $2,055,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BABA. Brighton Jones LLC boosted its holdings in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after buying an additional 981 shares in the last quarter. Federated Hermes Inc. boosted its stake in Alibaba Group by 54.9% during the fourth quarter. Federated Hermes Inc. now owns 124,978 shares of the specialty retailer's stock worth $10,597,000 after acquiring an additional 44,278 shares in the last quarter. Bank of Montreal Can grew its holdings in Alibaba Group by 92.7% in the fourth quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock worth $97,308,000 after purchasing an additional 552,010 shares during the period. Renaissance Technologies LLC increased its stake in Alibaba Group by 208.5% in the fourth 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 in the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in shares of Alibaba Group by 3.7% during the 4th quarter. TRUE Private Wealth Advisors now owns 3,239 shares of the specialty retailer's stock worth $275,000 after purchasing an additional 116 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Alibaba Group stock traded up $0.02 during mid-day trading on Thursday, reaching $120.88. 9,458,767 shares of the company's stock were exchanged, compared to its average volume of 13,893,078. The firm has a market capitalization of $288.35 billion, a PE ratio of 16.23, a P/E/G ratio of 1.78 and a beta of 0.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $115.65 and its 200 day simple moving average is $118.93. Alibaba Group Holding Limited has a one year low of $77.74 and a one year high of $148.43.

Alibaba Group Cuts Dividend

The business 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 yield of 80.0%. Alibaba Group's dividend payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

BABA has been the topic of a number of research reports. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a report on Tuesday, June 24th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $153.29.

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.