Ping Capital Management Inc. Decreases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Ping Capital Management Inc. lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 86.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,000 shares of the specialty retailer's stock after selling 26,000 shares during the period. Ping Capital Management Inc.'s holdings in Alibaba Group were worth $529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at $4,074,000. KMG Fiduciary Partners LLC purchased a new position in Alibaba Group in the 1st quarter valued at $1,948,000. Avaii Wealth Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at $563,000. Fiduciary Alliance LLC lifted its holdings in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares in the last quarter. Finally, Summa Corp. lifted its holdings in Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock valued at $9,477,000 after purchasing an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BABA shares. Citigroup decreased their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Mizuho decreased their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Robert W. Baird cut their target price 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. Morgan Stanley set a $180.00 target price on Alibaba Group in a research note on Wednesday, May 14th. Finally, Barclays cut their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $150.80.

Alibaba Group Trading Up 3.5%

BABA traded up $4.08 on Friday, hitting $121.38. The company had a trading volume of 13,233,647 shares, compared to its average volume of 20,080,997. The firm has a market cap of $289.61 billion, a P/E ratio of 16.30, a PEG ratio of 1.70 and a beta of 0.21. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The company's fifty day moving average price is $116.86 and its 200 day moving average price is $115.19. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The business 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. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is currently 12.75%.

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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