Principal Financial Group Inc. Has $2.26 Million Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Principal Financial Group Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 47.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,121 shares of the specialty retailer's stock after selling 15,488 shares during the period. Principal Financial Group Inc.'s holdings in Alibaba Group were worth $2,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BABA. Resonant Capital Advisors LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at $334,000. Private Trust Co. NA raised its stake in shares of Alibaba Group by 158.7% in the first quarter. Private Trust Co. NA now owns 3,428 shares of the specialty retailer's stock valued at $453,000 after acquiring an additional 2,103 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Alibaba Group by 15.9% in the first quarter. Aaron Wealth Advisors LLC now owns 6,937 shares of the specialty retailer's stock valued at $917,000 after acquiring an additional 950 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at $4,074,000. Finally, Alterna Wealth Management Inc. acquired a new stake in Alibaba Group in the first quarter valued at $353,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Robert W. Baird cut their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Barclays cut their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Mizuho lowered their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Bank of America lowered their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Alibaba Group has an average rating of "Moderate Buy" and an average target price of $150.80.

Alibaba Group Trading Up 2.5%

Shares of NYSE BABA traded up $2.92 during trading on Friday, hitting $120.22. 26,729,940 shares of the company traded hands, compared to its average volume of 20,216,618. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The company has a 50-day moving average price of $116.76 and a 200-day moving average price of $115.65. The firm has a market capitalization of $286.85 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.77 and a beta of 0.21. The company has a quick ratio of 1.55, a current 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. Investors of record on Thursday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is 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.