Octavia Wealth Advisors LLC Purchases New Shares in Alibaba Group Holding Limited (NYSE:BABA)

Octavia Wealth Advisors LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,104 shares of the specialty retailer's stock, valued at approximately $278,000.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Alibaba Group in the fourth quarter valued at $6,478,000. Bleakley Financial Group LLC raised its position in Alibaba Group by 7.1% during the fourth quarter. Bleakley Financial Group LLC now owns 11,846 shares of the specialty retailer's stock worth $1,004,000 after acquiring an additional 790 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Alibaba Group in the 4th quarter valued at about $265,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Alibaba Group during the 4th quarter worth about $3,020,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded up $2.12 on Monday, hitting $121.50. 10,383,546 shares of the company traded hands, compared to its average volume of 20,006,722. The stock has a market capitalization of $289.90 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The business has a 50-day simple moving average of $118.11 and a 200 day simple moving average of $110.11. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Stockholders 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 payout ratio is 13.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup lowered their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Bank of America boosted their price target on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays boosted their price target on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Mizuho dropped their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $154.21.

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.