Pinpoint Asset Management Ltd Buys Shares of 213,115 Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Pinpoint Asset Management Ltd acquired 213,115 shares of Alibaba Group valued at approximately $28.2 million, making it the firm's 7th largest investment.
• Several hedge funds increased their stakes in Alibaba, with ownership among institutional investors reaching 13.47% of the company's stock.
• Analysts have issued mixed ratings for Alibaba, with three holding a "hold" rating while thirteen maintain a "buy" rating, resulting in an average target price of $153.29.

Pinpoint Asset Management Ltd purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 213,115 shares of the specialty retailer's stock, valued at approximately $28,180,000. Alibaba Group makes up 4.9% of Pinpoint Asset Management Ltd's holdings, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the first quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its position in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in Alibaba Group in the first quarter worth about $31,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $31,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Alibaba Group during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BABA. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on Alibaba Group in a research note on Friday, May 16th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research note on Tuesday, June 24th. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Stock Performance

NYSE BABA opened at $120.97 on Thursday. The stock has a market capitalization of $288.55 billion, a PE ratio of 16.24, a P/E/G ratio of 1.72 and a beta of 0.17. The business has a 50 day simple moving average of $115.58 and a two-hundred day simple moving average of $118.68. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a 1-year low of $77.46 and a 1-year high of $148.43.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a $0.95 dividend. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 12.75%.

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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