Jessup Wealth Management Inc Sells 10,193 Shares of Alibaba Group Holding Limited (NYSE:BABA)

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

A number of other hedge funds have also modified their holdings of BABA. Marcum Wealth LLC grew 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 purchasing an additional 86 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares during the last quarter. Rings Capital Management LLC boosted its holdings in Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock valued at $602,000 after purchasing an additional 100 shares during the last quarter. HM Payson & Co. boosted its holdings in Alibaba Group by 41.7% in the 1st quarter. HM Payson & Co. now owns 340 shares of the specialty retailer's stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Global Endowment Management LP boosted its holdings in Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after purchasing an additional 106 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on BABA shares. Citigroup decreased their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Mizuho reduced 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. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $154.13.

Alibaba Group Stock Performance

BABA traded up $2.49 during trading on Tuesday, hitting $108.76. The stock had a trading volume of 5,645,076 shares, compared to its average volume of 19,926,095. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $259.52 billion, a P/E ratio of 14.60, a PEG ratio of 0.47 and a beta of 0.22. The company's 50-day moving average price is $118.95 and its 200 day moving average price is $114.20. Alibaba Group Holding Limited has a twelve month low of $72.95 and a twelve month high of $148.43.

Alibaba Group Cuts Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's payout ratio is 13.83%.

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.