Pekin Hardy Strauss Inc. Sells 8,281 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Pekin Hardy Strauss Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,693 shares of the specialty retailer's stock after selling 8,281 shares during the quarter. Alibaba Group makes up 1.2% of Pekin Hardy Strauss Inc.'s investment portfolio, making the stock its 11th largest 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 institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Alibaba Group during the 4th quarter worth about $585,479,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares during the period. Renaissance Technologies LLC lifted its position in shares of Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. Appaloosa LP boosted its holdings in shares of Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Finally, Janus Henderson Group PLC grew its position in Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

BABA stock traded down $2.37 during midday trading on Monday, hitting $106.33. 17,375,569 shares of the company traded hands, compared to its average volume of 19,982,455. The business has a 50 day simple moving average of $119.19 and a 200-day simple moving average of $114.03. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $72.95 and a twelve month high of $148.43. The stock has a market capitalization of $253.73 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors 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 yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

Analyst Ratings Changes

A number of research firms have issued reports on BABA. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup reduced their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.

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.