Myriad Asset Management US LP Invests $20.96 Million in Alibaba Group Holding Limited (NYSE:BABA)

Myriad Asset Management US LP bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 158,536 shares of the specialty retailer's stock, valued at approximately $20,963,000. Alibaba Group accounts for approximately 8.8% of Myriad Asset Management US LP's portfolio, making the stock its 3rd largest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Alibaba Group in the 4th quarter worth $585,479,000. Renaissance Technologies LLC boosted its position in Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after acquiring an additional 2,024,640 shares during the period. Appaloosa LP grew its stake in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after acquiring an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC grew its stake in Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after acquiring an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd lifted its position in shares of Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock worth $175,221,000 after purchasing an additional 908,544 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

BABA traded up $4.56 during trading on Wednesday, hitting $119.53. The stock had a trading volume of 18,081,113 shares, compared to its average volume of 20,013,075. The firm has a market cap of $285.17 billion, a PE ratio of 17.27, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month high of $148.43. The company has a 50 day simple moving average of $118.88 and a 200-day simple moving average of $109.28.

Alibaba Group Cuts Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on BABA shares. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Benchmark dropped their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $154.21.

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.