Novare Capital Management LLC Makes New $382,000 Investment in Alibaba Group Holding Limited (NYSE:BABA)

Novare Capital Management LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,886 shares of the specialty retailer's stock, valued at approximately $382,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BABA. HM Payson & Co. boosted its holdings in Alibaba Group by 41.7% in the first quarter. HM Payson & Co. now owns 340 shares of the specialty retailer's stock worth $45,000 after purchasing an additional 100 shares during the period. Macroview Investment Management LLC acquired a new position in Alibaba Group in the first quarter worth $324,000. Bank of New York Mellon Corp boosted its holdings in Alibaba Group by 56.9% in the first quarter. Bank of New York Mellon Corp now owns 270,984 shares of the specialty retailer's stock worth $35,832,000 after purchasing an additional 98,236 shares during the period. World Investment Advisors boosted its holdings in Alibaba Group by 6.7% in the first quarter. World Investment Advisors now owns 11,379 shares of the specialty retailer's stock worth $1,505,000 after purchasing an additional 719 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in Alibaba Group in the first quarter worth $104,000. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BABA shares. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Finally, Mizuho reduced their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report 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. According to data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $154.13.

Alibaba Group Price Performance

BABA stock traded down $2.37 during trading on Monday, hitting $106.33. The company had a trading volume of 17,375,569 shares, compared to its average volume of 19,982,605. The firm has a market capitalization of $253.73 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.47 and a beta of 0.22. The business has a 50 day moving average of $119.19 and a 200 day moving average of $114.03. Alibaba Group Holding Limited has a fifty-two week low of $72.95 and a fifty-two week 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 business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's payout ratio is currently 13.83%.

Alibaba Group Company 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.