Jupiter Asset Management Ltd. Acquires Shares of 76,908 Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Jupiter Asset Management Ltd. has invested approximately $10.17 million in Alibaba Group, acquiring a new position with 76,908 shares in the first quarter.
• Several institutional investors, including WCM Investment Management and KMG Fiduciary Partners, have also increased or acquired stakes in Alibaba during the same period.
• Alibaba's recent stock performance shows a 12-month high of $148.43 and a low of $73.87, with the stock currently trading at around $117.06.

Jupiter Asset Management Ltd. bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 76,908 shares of the specialty retailer's stock, valued at approximately $10,170,000.

Several other hedge funds have also added to or reduced their stakes in BABA. Hazlett Burt & Watson Inc. raised its stake in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Alibaba Group in the first quarter worth $31,000. Inlight Wealth Management LLC purchased a new position in shares of Alibaba Group in the first quarter worth $31,000. Valley National Advisers Inc. raised its stake in shares of Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 161 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group in the first quarter worth $35,000. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BABA shares. Barclays reduced their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Bank of America reduced their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Price Performance

Alibaba Group stock traded down $3.57 during midday trading on Friday, reaching $117.06. 12,191,248 shares of the stock traded hands, compared to its average volume of 15,299,974. The stock's fifty day moving average is $115.61 and its 200-day moving average is $118.45. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43. The stock has a market cap of $279.23 billion, a P/E ratio of 15.71, a PEG ratio of 1.72 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.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio is presently 12.75%.

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.