Kestra Private Wealth Services LLC Buys 2,766 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Kestra Private Wealth Services LLC grew its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,363 shares of the specialty retailer's stock after acquiring an additional 2,766 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Alibaba Group were worth $2,957,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC bought a new position in shares of Alibaba Group during the first quarter valued at $31,000. Inlight Wealth Management LLC bought a new position in shares of Alibaba Group during the first quarter valued at $31,000. Valley National Advisers Inc. lifted its holdings in Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 161 shares during the period. LFA Lugano Financial Advisors SA bought a new position in Alibaba Group in the first quarter valued at about $35,000. Finally, ORG Partners LLC lifted its holdings in Alibaba Group by 950.0% in the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after acquiring an additional 285 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

NYSE BABA traded down $1.31 during trading on Thursday, hitting $121.27. 9,264,897 shares of the stock traded hands, compared to its average volume of 22,500,574. The company has a market capitalization of $289.36 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.78 and a beta of 0.21. The firm has a 50-day simple moving average of $116.07 and a 200-day simple moving average of $116.18. 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 Holding Limited has a 12-month low of $73.87 and a 12-month high of $148.43.

Alibaba Group Cuts Dividend

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

Wall Street Analyst Weigh In

BABA has been the topic of several recent research reports. Bank of America decreased their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Barclays decreased their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Citigroup decreased their target price on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.