IvyRock Asset Management HK Ltd Acquires 177,500 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• IvyRock Asset Management HK Ltd increased its stake in Alibaba Group by 5,725.8%, now holding 180,600 shares worth approximately $23.88 million, making it the firm's 4th largest position.
• Several hedge funds have also adjusted their positions in Alibaba Group, with notable increases by Assetmark Inc. and Cetera Investment Advisers.
• Alibaba Group's stock recently declined 1.2%, and analysts have set a consensus price target of $150.80 for the company.

IvyRock Asset Management HK Ltd lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 5,725.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,600 shares of the specialty retailer's stock after purchasing an additional 177,500 shares during the quarter. Alibaba Group makes up about 11.2% of IvyRock Asset Management HK Ltd's investment portfolio, making the stock its 4th largest position. IvyRock Asset Management HK Ltd's holdings in Alibaba Group were worth $23,881,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Assetmark Inc. boosted its stake in Alibaba Group by 15.7% in the 1st quarter. Assetmark Inc. now owns 16,098 shares of the specialty retailer's stock valued at $2,129,000 after buying an additional 2,181 shares in the last quarter. Cetera Investment Advisers raised its position in Alibaba Group by 32.6% in the 1st quarter. Cetera Investment Advisers now owns 150,096 shares of the specialty retailer's stock valued at $19,847,000 after purchasing an additional 36,926 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Alibaba Group by 6.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 20,484 shares of the specialty retailer's stock valued at $2,709,000 after purchasing an additional 1,160 shares during the last quarter. Jackson Hole Capital Partners LLC raised its position in Alibaba Group by 0.7% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 17,899 shares of the specialty retailer's stock valued at $2,367,000 after purchasing an additional 131 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. bought a new position in Alibaba Group in the 1st quarter valued at $664,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of NYSE BABA traded down $1.11 during trading hours on Friday, reaching $120.05. 7,032,735 shares of the stock were exchanged, compared to its average volume of 14,650,496. The firm has a market capitalization of $286.43 billion, a price-to-earnings ratio of 16.11, a P/E/G ratio of 1.78 and a beta of 0.21. 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 $73.87 and a 52 week high of $148.43. The stock's fifty day simple moving average is $115.96 and its 200 day simple moving average is $116.67.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Barclays decreased their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Finally, Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $150.80.

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.