Matthews International Capital Management LLC Raises Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Matthews International Capital Management LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 59.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,783 shares of the specialty retailer's stock after purchasing an additional 8,084 shares during the quarter. Alibaba Group accounts for 0.6% of Matthews International Capital Management LLC's investment portfolio, making the stock its 27th largest position. Matthews International Capital Management LLC's holdings in Alibaba Group were worth $2,880,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Berkshire Asset Management LLC PA bought a new position in Alibaba Group in the 4th quarter valued at $911,000. KMG Fiduciary Partners LLC bought a new position in shares of Alibaba Group during the 1st quarter worth $1,948,000. Bailard Inc. grew its stake in shares of Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after acquiring an additional 3,242 shares during the period. Fiduciary Alliance LLC grew its stake in shares of Alibaba Group by 18.3% during the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after acquiring an additional 18,230 shares during the period. Finally, Avaii Wealth Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth $563,000. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent analyst reports. Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Robert W. Baird decreased their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Benchmark reduced their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $154.21.

Alibaba Group Stock Down 0.5%

NYSE BABA traded down $0.58 during midday trading on Friday, hitting $112.91. 12,684,022 shares of the company traded hands, compared to its average volume of 19,986,504. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. The company has a market cap of $269.30 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. The company's 50-day simple moving average is $119.24 and its 200-day simple moving average is $111.70. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's payout ratio is 13.83%.

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.