Pekin Hardy Strauss Inc. Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Pekin Hardy Strauss Inc. trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,693 shares of the specialty retailer's stock after selling 8,281 shares during the period. Alibaba Group accounts for about 1.2% of Pekin Hardy Strauss Inc.'s investment portfolio, making the stock its 11th biggest holding. Pekin Hardy Strauss Inc.'s holdings in Alibaba Group were worth $10,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. WCM Investment Management LLC purchased a new stake in Alibaba Group in the first quarter worth about $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group during the 1st quarter valued at approximately $1,948,000. Avaii Wealth Management LLC purchased a new position in Alibaba Group during the first quarter valued at $563,000. Fiduciary Alliance LLC grew its stake in shares of Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after acquiring an additional 18,230 shares during the last quarter. Finally, Summa Corp. increased its holdings in shares of Alibaba Group by 28.7% during the first quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock valued at $9,477,000 after acquiring an additional 16,000 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup dropped their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Benchmark reduced their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Robert W. Baird dropped their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Trading Down 1.8%

Shares of NYSE BABA opened at $108.67 on Monday. Alibaba Group Holding Limited has a twelve month low of $72.95 and a twelve month high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $119.19 and a two-hundred day simple moving average of $114.03. The firm has a market cap of $259.31 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is currently 13.83%.

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.

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