213,115 Shares in Alibaba Group Holding Limited (NYSE:BABA) Bought by Pinpoint Asset Management Ltd

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 acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 213,115 shares of the specialty retailer's stock, valued at approximately $28,180,000. Alibaba Group comprises about 4.9% of Pinpoint Asset Management Ltd's portfolio, making the stock its 7th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in 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 buying an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Trivest Advisors Ltd acquired a new position in Alibaba Group during the first quarter worth $295,270,000. Janus Henderson Group PLC grew its position in Alibaba Group by 95.4% in 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. Finally, Polunin Capital Partners Ltd increased its stake in Alibaba Group by 218.1% in the 1st quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after buying an additional 908,544 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BABA shares. Barclays decreased their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Mizuho dropped their price objective 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. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Finally, Benchmark restated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Stock Performance

BABA stock traded down $0.62 during trading hours on Friday, hitting $120.34. 9,749,766 shares of the stock were exchanged, compared to its average volume of 13,689,386. Alibaba Group Holding Limited has a 12 month low of $77.74 and a 12 month high of $148.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $287.05 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.77 and a beta of 0.17. The company has a 50-day simple moving average of $115.78 and a two-hundred day simple moving average of $119.40.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Shareholders 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 80.0%. Alibaba Group's payout ratio is currently 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.