Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 16.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,736 shares of the specialty retailer's stock after purchasing an additional 4,533 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Alibaba Group were worth $4,329,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $31,000. Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $31,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

BABA has been the subject of several recent research reports. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Bank of America cut their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Mizuho cut their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Robert W. Baird cut their target price 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 reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Stock Up 3.7%

NYSE:BABA traded up $4.55 during midday trading on Wednesday, reaching $126.97. The company had a trading volume of 19,270,709 shares, compared to its average volume of 12,441,343. The firm has a market capitalization of $302.80 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.80 and a beta of 0.17. The stock's fifty day simple moving average is $116.15 and its 200-day simple moving average is $119.91. Alibaba Group Holding Limited has a 12-month low of $77.74 and a 12-month 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.

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 issued a dividend of $0.95 per share. This represents a yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's 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.