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Lord Abbett & CO. LLC Acquires Shares of 551,877 Alibaba Group Holding Limited (NYSE:BABA)

Alibaba Group logo with Retail/Wholesale background

Lord Abbett & CO. LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 551,877 shares of the specialty retailer's stock, valued at approximately $72,975,000.

Several other institutional investors also recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in shares of Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Bank of America Corp DE raised its holdings in Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after acquiring an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alibaba Group by 19.5% during the fourth 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 acquiring an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alibaba Group by 3,214.5% in the first 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 during the period. Finally, Alyeska Investment Group L.P. grew its position in shares of Alibaba Group by 1.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock valued at $337,377,000 after purchasing an additional 44,901 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

BABA has been the subject of several analyst reports. Bank of America cut their target price on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Mizuho lowered their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Get Our Latest Stock Analysis on Alibaba Group

Alibaba Group Stock Up 3.7%

Shares of NYSE:BABA opened at $126.97 on Thursday. The stock's 50-day moving average is $116.15 and its 200 day moving average is $119.91. The company has a market cap of $302.80 billion, a PE ratio of 17.04, a P/E/G 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 Holding Limited has a 1 year low of $77.74 and a 1 year high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

Alibaba Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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