Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 3,214.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,378,671 shares of the specialty retailer's stock after acquiring an additional 4,246,564 shares during the quarter. Alibaba Group comprises 1.5% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 13th largest holding. Mirae Asset Global Investments Co. Ltd. owned approximately 0.18% of Alibaba Group worth $578,992,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Asset Management LLC PA purchased a new position in shares of Alibaba Group during the fourth quarter worth $911,000. KMG Fiduciary Partners LLC purchased a new position in Alibaba Group in the first quarter valued at $1,948,000. Bailard Inc. boosted its holdings in Alibaba Group by 46.3% in the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after purchasing an additional 3,242 shares during the period. Avaii Wealth Management LLC purchased a new position in Alibaba Group in the first quarter valued at $563,000. Finally, Fiduciary Alliance LLC boosted its holdings in Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BABA has been the subject of a number of recent research reports. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Benchmark decreased their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Robert W. Baird cut their price target on 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, Loop Capital set a $176.00 price target on Alibaba Group in a research note 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 an average rating of "Moderate Buy" and a consensus price target of $154.13.
View Our Latest Stock Report on BABA
Alibaba Group Stock Down 0.6%
Shares of NYSE:BABA traded down $0.66 during trading on Monday, reaching $113.42. 10,438,040 shares of the company traded hands, compared to its average volume of 19,969,397. The firm has a fifty day simple moving average of $119.76 and a 200 day simple moving average of $113.15. The firm has a market cap of $270.65 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a 1-year low of $71.97 and a 1-year high of $148.43. 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 Cuts Dividend
The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is currently 13.83%.
About Alibaba Group
(
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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