Maytree Asset Management Ltd Acquires New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Maytree Asset Management Ltd purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,467 shares of the specialty retailer's stock, valued at approximately $1,913,000. Alibaba Group makes up about 3.4% of Maytree Asset Management Ltd's investment portfolio, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Greenleaf Trust lifted its position in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after purchasing an additional 85 shares during the period. Marcum Wealth LLC raised its position in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after acquiring an additional 86 shares in the last quarter. Principal Securities Inc. boosted its position in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after purchasing an additional 89 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares in the last quarter. Finally, Rings Capital Management LLC lifted its stake in Alibaba Group by 1.4% during the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock valued at $602,000 after purchasing an additional 100 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BABA shares. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Barclays decreased their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.80.

Alibaba Group Trading Down 0.9%

Shares of BABA traded down $1.07 during trading hours on Friday, hitting $120.08. 4,124,843 shares of the stock traded hands, compared to its average volume of 22,385,811. The firm has a market capitalization of $286.51 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.80 and a beta of 0.21. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $116.02 and a 200-day moving average of $116.43.

Alibaba Group Cuts Dividend

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

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.