Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,769 shares of the specialty retailer's stock after selling 10,193 shares during the quarter. Alibaba Group comprises about 4.0% of Jessup Wealth Management Inc's holdings, making the stock its 7th biggest holding. Jessup Wealth Management Inc's holdings in Alibaba Group were worth $9,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BABA. WCM Investment Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter worth approximately $4,074,000. KMG Fiduciary Partners LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $1,948,000. Avaii Wealth Management LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $563,000. Fiduciary Alliance LLC lifted its holdings in Alibaba Group by 18.3% during the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after buying an additional 18,230 shares in the last quarter. Finally, Summa Corp. lifted its holdings in Alibaba Group by 28.7% during the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock worth $9,477,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of BABA stock traded down $2.37 during mid-day trading on Monday, hitting $106.33. The stock had a trading volume of 17,375,569 shares, compared to its average volume of 19,982,482. Alibaba Group Holding Limited has a fifty-two week low of $72.95 and a fifty-two week high of $148.43. The firm has a market cap of $253.73 billion, a PE ratio of 14.27, a PEG ratio of 0.47 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company's 50-day simple moving average is $119.19 and its 200-day simple moving average is $114.03.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid 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 dividend payout ratio (DPR) is 13.83%.

Analysts Set New Price Targets

A number of research firms have issued reports on BABA. Citigroup reduced their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Robert W. Baird reduced their target price 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 report on Tuesday, June 24th. Finally, Benchmark reduced their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $154.13.

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.