2,425 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,425 shares of the specialty retailer's stock, valued at approximately $321,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Alibaba Group during the first quarter valued at about $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $31,000. Valley National Advisers Inc. raised its holdings in shares of Alibaba Group by 151.9% in the 1st 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 last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $35,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 0.5%

NYSE:BABA traded down $0.62 during trading hours on Friday, reaching $120.34. The company's stock had a trading volume of 9,749,766 shares, compared to its average volume of 13,689,386. The firm has a market capitalization of $287.05 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.78 and a beta of 0.17. The firm has a 50-day simple moving average of $115.78 and a 200-day simple moving average of $119.17. Alibaba Group Holding Limited has a 1 year low of $77.74 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays reduced their target price on shares of 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 downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

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.