Alibaba Group Holding Limited (NYSE:BABA) Stake Lessened by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,199 shares of the specialty retailer's stock after selling 55,777 shares during the quarter. Mackenzie Financial Corp's holdings in Alibaba Group were worth $2,985,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Alibaba Group in the fourth quarter valued at approximately $585,479,000. Renaissance Technologies LLC grew its position in shares of Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after acquiring an additional 2,024,640 shares during the period. Appaloosa LP lifted its stake in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after buying an additional 1,843,158 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Alibaba Group by 95.4% during 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. Finally, Voloridge Investment Management LLC bought a new stake in Alibaba Group in the 4th quarter valued at about $73,727,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Down 2.8%

Shares of Alibaba Group stock traded down $3.29 on Friday, reaching $113.89. The company had a trading volume of 17,187,371 shares, compared to its average volume of 20,012,382. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43. The firm's 50 day moving average price is $119.64 and its two-hundred day moving average price is $108.81. The firm has a market cap of $271.72 billion, a PE ratio of 16.46, a PEG ratio of 0.61 and a beta of 0.24. 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 business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is presently 13.83%.

Analysts Set New Price Targets

Several brokerages recently commented on BABA. Robert W. Baird dropped 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 note on Friday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Benchmark reduced their price target on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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.