Massachusetts Financial Services Co. MA Sells 59,577 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Massachusetts Financial Services Co. MA cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,106 shares of the specialty retailer's stock after selling 59,577 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Alibaba Group were worth $27,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after buying an additional 981 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Alibaba Group during the 4th quarter worth approximately $3,785,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Alibaba Group by 13.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,058 shares of the specialty retailer's stock worth $768,000 after purchasing an additional 1,070 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of Alibaba Group by 20.9% in the 4th quarter. Cibc World Markets Corp now owns 24,730 shares of the specialty retailer's stock worth $2,097,000 after purchasing an additional 4,280 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Alibaba Group by 4.5% in the 4th quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer's stock worth $230,000 after purchasing an additional 116 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BABA. Benchmark cut their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Citigroup lowered their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Bank of America lowered their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus price target of $150.80.

Alibaba Group Stock Up 2.5%

Shares of Alibaba Group stock traded up $2.92 during midday trading on Friday, hitting $120.22. The company's stock had a trading volume of 26,729,940 shares, compared to its average volume of 20,216,618. The firm has a market capitalization of $286.85 billion, a P/E ratio of 16.14, a PEG ratio of 1.77 and a beta of 0.21. The stock has a 50-day simple moving average of $116.76 and a 200-day simple moving average of $115.65. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's payout ratio is 12.75%.

Alibaba Group Company 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.