Picton Mahoney Asset Management Purchases New Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Picton Mahoney Asset Management has acquired a new position in Alibaba Group, purchasing 62,099 shares valued at approximately $8.2 million in the first quarter.
• Several institutional investors have increased their stakes, with notable increases from Bank of America (7%) and Mirae Asset Global Investments (3,214.5%) in the previous quarter.
• Alibaba's stock has been rated with an average of "Moderate Buy" among analysts, but recent ratings have seen adjustments downwards, including a price target reduction by Citigroup.

Picton Mahoney Asset Management purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,099 shares of the specialty retailer's stock, valued at approximately $8,212,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 in the last quarter. Alyeska Investment Group L.P. increased its stake in Alibaba Group by 1.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after buying an additional 44,901 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after buying an additional 2,024,640 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Citigroup cut 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. Barclays cut their price objective on 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 lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research note on Tuesday, June 24th. Finally, Robert W. Baird cut their price objective on Alibaba Group from $147.00 to $142.00 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Trading Up 1.8%

BABA opened at $122.19 on Tuesday. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The stock has a market capitalization of $291.47 billion, a PE ratio of 16.40, a P/E/G ratio of 1.77 and a beta of 0.22. The business's 50 day moving average price is $115.94 and its 200 day moving average price is $117.42. 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 Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were issued a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio is presently 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.

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