Mackenzie Financial Corp Has $2.97 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Mackenzie Financial Corp has reduced its holdings in Alibaba Group by 36.2%, selling 12,750 shares, leaving them with 22,449 shares valued at approximately $2.97 million.
• Alibaba Group's shares are currently down by 3.0% and have a market capitalization of $279.23 billion, with a PE ratio of 15.71.
• Several analysts have rated Alibaba with an average rating of "Moderate Buy" and a price target average of $153.29, reflecting mixed sentiments in the market.

Mackenzie Financial Corp lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 36.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,449 shares of the specialty retailer's stock after selling 12,750 shares during the quarter. Mackenzie Financial Corp's holdings in Alibaba Group were worth $2,968,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares during the period. Franklin Resources Inc. boosted its position in shares of Alibaba Group by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 488,356 shares of the specialty retailer's stock valued at $41,408,000 after purchasing an additional 10,057 shares during the period. Huntington National Bank boosted its position in shares of Alibaba Group by 24.0% in the 4th quarter. Huntington National Bank now owns 2,602 shares of the specialty retailer's stock valued at $221,000 after purchasing an additional 504 shares during the period. World Investment Advisors boosted its position in shares of Alibaba Group by 4.0% in the 4th quarter. World Investment Advisors now owns 10,660 shares of the specialty retailer's stock valued at $904,000 after purchasing an additional 408 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in Alibaba Group by 3.1% in the 4th quarter. Arete Wealth Advisors LLC now owns 8,249 shares of the specialty retailer's stock worth $700,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

BABA has been the subject of several research analyst reports. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Bank of America reduced their price objective 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. Barclays reduced their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Citigroup reduced their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Stock Performance

BABA traded up $3.05 during midday trading on Wednesday, reaching $120.09. The company's stock had a trading volume of 8,751,848 shares, compared to its average volume of 21,772,459. The stock has a market cap of $286.45 billion, a P/E ratio of 16.13, a PEG ratio of 1.73 and a beta of 0.17. The company has a fifty day simple moving average of $115.49 and a 200 day simple moving average of $118.67. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $77.46 and a twelve month high of $148.43.

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 issued 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 12.75%.

Alibaba Group 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.