Madison Asset Management LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,056 shares of the specialty retailer's stock after selling 7,585 shares during the period. Madison Asset Management LLC's holdings in Alibaba Group were worth $4,900,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. WCM Investment Management LLC acquired a new position in Alibaba Group during the 1st quarter worth $4,074,000. KMG Fiduciary Partners LLC acquired a new position in Alibaba Group during the 1st quarter worth $1,948,000. Avaii Wealth Management LLC bought a new position in shares of Alibaba Group in the 1st quarter worth about $563,000. Fiduciary Alliance LLC lifted its position in shares of Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after buying an additional 18,230 shares during the last quarter. Finally, Summa Corp. lifted its position in shares of Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock worth $9,477,000 after buying an additional 16,000 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.
Alibaba Group Stock Performance
Shares of NYSE BABA traded down $1.11 during trading hours on Friday, hitting $120.05. 7,032,735 shares of the stock were exchanged, compared to its average volume of 22,406,953. 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 one year low of $73.87 and a one year high of $148.43. The company's 50 day moving average is $116.02 and its 200 day moving average is $116.43. The firm has a market capitalization of $286.43 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.80 and a beta of 0.21.
Alibaba Group Cuts Dividend
The business also recently declared a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were issued a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Robert W. Baird lowered their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $150.80.
Read Our Latest Analysis on BABA
Alibaba Group Company 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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