New York State Common Retirement Fund lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 51.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 169,272 shares of the specialty retailer's stock after selling 181,320 shares during the quarter. New York State Common Retirement Fund's holdings in Alibaba Group were worth $22,383,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BABA. Kathmere Capital Management LLC grew its position in Alibaba Group by 72.1% in the first quarter. Kathmere Capital Management LLC now owns 9,159 shares of the specialty retailer's stock valued at $1,211,000 after acquiring an additional 3,838 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Ballentine Partners LLC now owns 14,651 shares of the specialty retailer's stock valued at $1,937,000 after buying an additional 759 shares during the last quarter. Berbice Capital Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at approximately $66,000. Riversedge Advisors LLC boosted its stake in shares of Alibaba Group by 36.1% during the 1st quarter. Riversedge Advisors LLC now owns 3,626 shares of the specialty retailer's stock valued at $479,000 after buying an additional 962 shares during the last quarter. Finally, Applied Capital LLC FL boosted its stake in shares of Alibaba Group by 6.7% during the 1st quarter. Applied Capital LLC FL now owns 7,238 shares of the specialty retailer's stock valued at $957,000 after buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on BABA shares. Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Citigroup lowered their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird lowered their target price 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. Finally, Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $150.80.
Get Our Latest Analysis on BABA
Alibaba Group Stock Performance
Shares of BABA traded down $1.20 during trading hours on Wednesday, reaching $115.77. 14,374,682 shares of the company's stock traded hands, compared to its average volume of 20,056,871. The firm has a market capitalization of $276.22 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.48 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a twelve month low of $73.87 and a twelve month high of $148.43. The business's fifty day simple moving average is $117.18 and its two-hundred day simple moving average is $114.96.
Alibaba Group Cuts Dividend
The firm also recently declared a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is 12.75%.
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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