LGT Group Foundation Lowers Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• LGT Group Foundation reduced its stake in Alibaba Group by 17.6% during Q1, owning 15,182 shares worth $2.01 million.
• Goldman Sachs and other institutions increased their positions in Alibaba, with Goldman Sachs boosting its ownership by 22.6%.
• Analysts have mixed opinions on Alibaba, with three rating it as hold and thirteen issuing buy ratings, reflecting a consensus of "Moderate Buy."

LGT Group Foundation cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,182 shares of the specialty retailer's stock after selling 3,246 shares during the quarter. LGT Group Foundation's holdings in Alibaba Group were worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of BABA. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Trivest Advisors Ltd purchased a new position in shares of Alibaba Group in the 1st quarter worth $295,270,000. Invesco Ltd. boosted its stake in shares of Alibaba Group by 55.9% in the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after buying an additional 1,259,718 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after buying an additional 1,030,999 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 3.7%

Shares of NYSE:BABA traded up $4.55 during trading hours on Wednesday, hitting $126.97. 19,270,709 shares of the company's stock traded hands, compared to its average volume of 12,441,343. Alibaba Group Holding Limited has a 1 year low of $77.74 and a 1 year high of $148.43. The business has a fifty day moving average price of $116.15 and a 200-day moving average price of $119.91. The firm has a market capitalization of $302.80 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Alibaba Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BABA. Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Bank of America decreased their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.