Kingsview Wealth Management LLC Purchases 3,048 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Kingsview Wealth Management LLC lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 57.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,362 shares of the specialty retailer's stock after purchasing an additional 3,048 shares during the period. Kingsview Wealth Management LLC's holdings in Alibaba Group were worth $1,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. Bruce G. Allen Investments LLC acquired a new position in shares of Alibaba Group in the first quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new position in shares of Alibaba Group in the first quarter worth approximately $31,000. Valley National Advisers Inc. lifted 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 acquiring an additional 161 shares during the period. LFA Lugano Financial Advisors SA acquired a new position in shares of Alibaba Group in the first quarter worth approximately $35,000. Finally, ORG Partners LLC lifted its stake in shares of Alibaba Group by 950.0% in the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 285 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on BABA. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird dropped their price target 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. Barclays dropped their price target 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. Finally, Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $150.80.

Alibaba Group Stock Up 2.5%

Shares of NYSE BABA opened at $120.22 on Monday. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. 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 business's fifty day moving average price is $116.76 and its 200-day moving average price is $115.86. The stock has a market capitalization of $286.85 billion, a PE ratio of 16.14, a P/E/G ratio of 1.77 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Alibaba Group Company 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.

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