OVERSEA CHINESE BANKING Corp Ltd 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 Securities and Exchange Commission. The institutional investor acquired 73,390 shares of the specialty retailer's stock, valued at approximately $9,954,000.
A number of other hedge funds also recently bought and sold shares of BABA. Brighton Jones LLC raised its holdings in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Alibaba Group by 34.9% in the 4th quarter. Schroder Investment Management Group now owns 202,309 shares of the specialty retailer's stock valued at $17,020,000 after buying an additional 52,302 shares during the period. Summit Financial LLC grew its stake in shares of Alibaba Group by 7.0% in the 4th quarter. Summit Financial LLC now owns 6,275 shares of the specialty retailer's stock valued at $532,000 after buying an additional 413 shares during the period. Franklin Resources Inc. grew its stake in shares of Alibaba Group by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 488,356 shares of the specialty retailer's stock valued at $41,408,000 after buying an additional 10,057 shares during the period. Finally, Huntington National Bank grew its stake in shares of Alibaba Group by 24.0% in the 4th quarter. Huntington National Bank now owns 2,602 shares of the specialty retailer's stock valued at $221,000 after buying an additional 504 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.
Alibaba Group Stock Performance
NYSE:BABA opened at $117.06 on Friday. 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 fifty-two week low of $73.87 and a fifty-two week high of $148.43. The stock has a market capitalization of $279.23 billion, a P/E ratio of 15.71, a PEG ratio of 1.77 and a beta of 0.17. The company has a 50 day moving average price of $115.61 and a 200 day moving average price of $117.96.
Alibaba Group Cuts Dividend
The firm also recently declared a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a $0.95 dividend. This represents a yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is currently 12.75%.
Analyst Ratings Changes
Several analysts have recently weighed in on BABA shares. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Barclays dropped their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Mizuho dropped their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.
Check Out Our Latest Stock Analysis on BABA
About Alibaba Group
(
Free Report)
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.
See Also
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