Old Port Advisors Takes $319,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Old Port Advisors acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,416 shares of the specialty retailer's stock, valued at approximately $319,000.

A number of other large investors have also added to or reduced their stakes in the business. Greenleaf Trust boosted its holdings in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after acquiring an additional 85 shares during the last quarter. Marcum Wealth LLC lifted its position in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares during the period. Principal Securities Inc. lifted its position in shares of Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares during the period. Institute for Wealth Management LLC. lifted its position in shares of Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after purchasing an additional 93 shares during the period. Finally, Rings Capital Management LLC lifted its position in shares of Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares during the period. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Barclays lowered their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Mizuho lowered their target price 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 reiterated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Finally, Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $150.80.

Alibaba Group Stock Performance

Shares of Alibaba Group stock traded down $1.11 on Friday, reaching $120.05. 7,032,735 shares of the company traded hands, compared to its average volume of 14,650,496. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The company has a 50 day moving average of $115.96 and a 200 day moving average of $116.90. The firm has a market capitalization of $286.43 billion, a PE ratio of 16.11, a PEG ratio of 1.77 and a beta of 0.21. 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 Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given 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 is currently 12.75%.

About Alibaba Group

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.