Powell Investment Advisors LLC Buys Shares of 2,500 Alibaba Group Holding Limited (NYSE:BABA)

Powell Investment Advisors LLC 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 disclosure with the Securities & Exchange Commission. The fund purchased 2,500 shares of the specialty retailer's stock, valued at approximately $331,000.

Several other large investors also recently made changes to their positions in the stock. Bank of America Corp DE raised 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 acquiring an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alibaba Group by 19.5% during the fourth 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% in the first 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 during the period. Alyeska Investment Group L.P. lifted its stake in shares of Alibaba Group by 1.1% in the fourth 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 during the period. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on BABA shares. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Bank of America dropped their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Finally, Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $117.06 on Friday. The firm has a market capitalization of $279.23 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.72 and a beta of 0.17. Alibaba Group Holding Limited has a one year low of $73.87 and a one year high of $148.43. The business has a fifty day simple moving average of $115.61 and a 200 day simple moving average of $118.20. 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 firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.95 per share. 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%.

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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