Kingstone Capital Partners Texas LLC Acquires Shares of 3,979 Alibaba Group Holding Limited (NYSE:BABA)

Kingstone Capital Partners Texas LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,979 shares of the specialty retailer's stock, valued at approximately $337,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Appaloosa LP increased its position in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after buying an additional 1,843,158 shares during the last quarter. Norges Bank bought a new stake in Alibaba Group during the fourth quarter valued at $585,479,000. Bank of America Corp DE grew its holdings in shares of Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares in the last quarter. Fisher Asset Management LLC grew its stake in Alibaba Group by 1.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after buying an additional 78,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after buying an additional 752,275 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BABA. Barclays lifted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $154.21.

Alibaba Group Trading Down 2.0%

Shares of Alibaba Group stock traded down $2.34 during trading on Wednesday, reaching $117.18. 5,888,823 shares of the stock were exchanged, compared to its average volume of 19,981,830. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market cap of $279.57 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The stock's fifty day moving average is $120.73 and its 200 day moving average is $108.45.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is currently 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.