Oppenheimer & Co. Inc. Sells 7,385 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Oppenheimer & Co. Inc. reduced its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,243 shares of the specialty retailer's stock after selling 7,385 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Alibaba Group were worth $9,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marcum Wealth LLC lifted its position in Alibaba Group by 3.2% in the first 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. Institute for Wealth Management LLC. lifted its position in Alibaba Group by 1.1% in the first 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. Rings Capital Management LLC lifted its position in Alibaba Group by 1.4% in the fourth 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. Lindbrook Capital LLC lifted its position in Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after purchasing an additional 101 shares during the period. Finally, Global Endowment Management LP lifted its position in Alibaba Group by 1.4% in the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 106 shares during the period. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on BABA shares. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Mizuho dropped their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Benchmark dropped their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Citigroup dropped their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $154.21.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $113.04 on Tuesday. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. The firm has a market cap of $269.58 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.46 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55. The business has a fifty day moving average of $119.32 and a 200-day moving average of $112.46.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 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.

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