Mackenzie Financial Corp Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Mackenzie Financial Corp cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 61.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,199 shares of the specialty retailer's stock after selling 55,777 shares during the period. Mackenzie Financial Corp's holdings in Alibaba Group were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Berkshire Asset Management LLC PA bought a new position in Alibaba Group in the fourth quarter worth $911,000. Bailard Inc. increased its holdings in shares of Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after acquiring an additional 3,242 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in Alibaba Group by 18.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 268,768 shares of the specialty retailer's stock valued at $22,789,000 after purchasing an additional 42,290 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $390,885,000 after acquiring an additional 752,275 shares in the last quarter. Finally, Global Frontier Investments LLC bought a new position in Alibaba Group in the 4th quarter valued at approximately $4,239,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 1.0%

BABA traded up $1.18 on Monday, hitting $115.02. The company had a trading volume of 13,122,980 shares, compared to its average volume of 19,984,302. The stock has a market capitalization of $274.41 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.61 and a beta of 0.24. The stock has a fifty day moving average price of $119.29 and a 200-day moving average price of $109.24. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43. 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 declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's payout ratio is presently 13.83%.

Analyst Upgrades and Downgrades

BABA has been the topic of several research analyst reports. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Citigroup cut their price target 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. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Robert W. Baird cut 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 report on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of "Buy" and an average target price of $154.21.

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.