Lake Hills Wealth Management LLC Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Lake Hills Wealth Management LLC trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 43.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,000 shares of the specialty retailer's stock after selling 2,295 shares during the period. Lake Hills Wealth Management LLC's holdings in Alibaba Group were worth $397,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BABA. Marcum Wealth LLC grew its stake in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after buying an additional 86 shares in the last quarter. Rings Capital Management LLC grew its stake in shares of Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after buying an additional 100 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after buying an additional 101 shares in the last quarter. Global Endowment Management LP grew its stake in shares of Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after buying an additional 106 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after buying an additional 108 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Bank of America lifted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Robert W. Baird dropped their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Benchmark lowered their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a 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 company. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Stock Down 0.4%

Shares of NYSE BABA opened at $119.48 on Friday. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43. The firm has a market capitalization of $285.05 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.61 and a beta of 0.24. The stock has a 50 day moving average price of $118.11 and a 200 day moving average price of $109.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

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. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 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.

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