NWK Group Inc. Invests $5.20 Million in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• NWK Group Inc. has acquired 39,305 shares of Alibaba Group, valued at approximately $5,197,000, making it the company's 20th largest holding.
• Several large investors, including Brighton Jones LLC and Federated Hermes Inc., have increased their stakes in Alibaba Group, indicating growing institutional interest.
• Wall Street analysts have mixed opinions, with a range of target prices on Alibaba shares, with the average target price set at $153.29 and a consensus rating of "Moderate Buy."

NWK Group Inc. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,305 shares of the specialty retailer's stock, valued at approximately $5,197,000. Alibaba Group comprises about 2.4% of NWK Group Inc.'s investment portfolio, making the stock its 20th largest position.

Several other hedge funds also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. boosted its holdings 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 during the period. 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. boosted 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 acquiring an additional 161 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BABA. Bank of America decreased their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a report on Tuesday, June 24th. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Finally, Barclays decreased their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Price Performance

NYSE:BABA traded down $0.62 during trading hours on Friday, hitting $120.34. The company's stock had a trading volume of 9,749,766 shares, compared to its average volume of 13,689,386. The business's 50-day moving average is $115.78 and its two-hundred day moving average is $119.40. The company has a market capitalization of $287.05 billion, a PE ratio of 16.15, a PEG ratio of 1.77 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a 52-week low of $77.74 and a 52-week high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio is presently 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.