Jennison Associates LLC Purchases New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Jennison Associates LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 726,695 shares of the specialty retailer's stock, valued at approximately $96,091,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BABA. Greenleaf Trust raised its holdings in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after acquiring an additional 85 shares in the last quarter. Marcum Wealth LLC raised its holdings in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares in the last quarter. Principal Securities Inc. raised its holdings in Alibaba Group by 0.5% in the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after acquiring an additional 89 shares in the last quarter. Institute for Wealth Management LLC. raised its holdings in Alibaba Group by 1.1% in the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after acquiring an additional 93 shares in the last quarter. Finally, Rings Capital Management LLC raised its holdings in Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock valued at $602,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded up $2.92 on Friday, hitting $120.22. The company's stock had a trading volume of 26,729,940 shares, compared to its average volume of 20,216,618. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43. 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 firm has a fifty day moving average price of $116.76 and a 200-day moving average price of $115.44. The company has a market capitalization of $286.85 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.77 and a beta of 0.21.

Alibaba Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America cut their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Finally, Barclays lowered their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.80.

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.