Mayflower Financial Advisors LLC Invests $379,000 in Alibaba Group Holding Limited (NYSE:BABA)

Mayflower Financial Advisors LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 2,866 shares of the specialty retailer's stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $31,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group during the 1st quarter worth $35,000. Valley National Advisers Inc. increased its holdings in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 161 shares during the period. Finally, ORG Partners LLC lifted its position in Alibaba Group by 950.0% during the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 285 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Robert W. Baird reduced their price target 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. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and an average price target of $150.80.

Alibaba Group Stock Up 1.3%

NYSE:BABA opened at $117.18 on Friday. The firm has a market capitalization of $279.59 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.70 and a beta of 0.21. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The stock has a 50 day moving average of $116.86 and a 200-day moving average of $115.19.

Alibaba Group Cuts Dividend

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

Alibaba Group 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.

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