Pittenger & Anderson Inc. Buys 14,150 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Pittenger & Anderson Inc. lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 76.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 32,600 shares of the specialty retailer's stock after purchasing an additional 14,150 shares during the period. Pittenger & Anderson Inc.'s holdings in Alibaba Group were worth $4,311,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in Alibaba Group during the first quarter worth $31,000. Inlight Wealth Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth about $31,000. Valley National Advisers Inc. grew its stake in Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after buying an additional 161 shares during the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Alibaba Group in the 1st quarter valued at about $35,000. Finally, ORG Partners LLC boosted its holdings in Alibaba Group by 950.0% in the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 285 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Up 0.1%

Alibaba Group stock opened at $106.72 on Friday. The firm's 50 day moving average price is $117.76 and its 200-day moving average price is $114.58. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $254.66 billion, a P/E ratio of 14.32, a PEG ratio of 0.46 and a beta of 0.21.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 12.75%.

Analyst Ratings Changes

A number of analysts have recently weighed in on BABA shares. Citigroup cut their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research report on Tuesday, June 24th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Bank of America reduced their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday. Finally, Benchmark dropped their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.13.

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.

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