Private Advisor Group LLC Reduces Stake in Alibaba Group Holding Limited (NYSE:BABA)

Private Advisor Group LLC trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 13.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,926 shares of the specialty retailer's stock after selling 14,696 shares during the period. Private Advisor Group LLC's holdings in Alibaba Group were worth $12,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tabor Asset Management LP purchased a new stake in shares of Alibaba Group in the 1st quarter worth $393,000. Jennison Associates LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth $96,091,000. Mystic Asset Management Inc. increased its stake in Alibaba Group by 3.4% in the 1st quarter. Mystic Asset Management Inc. now owns 16,347 shares of the specialty retailer's stock worth $2,162,000 after buying an additional 545 shares in the last quarter. Hardy Reed LLC purchased a new stake in Alibaba Group in the 1st quarter worth $264,000. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Alibaba Group by 82.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 5,131 shares of the specialty retailer's stock worth $678,000 after buying an additional 2,316 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Bank of America cut their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Benchmark cut their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Citigroup cut their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.80.

Alibaba Group Price Performance

Shares of Alibaba Group stock traded up $2.92 during trading on Friday, reaching $120.22. 26,729,940 shares of the stock traded hands, compared to its average volume of 20,216,618. The company has a market capitalization of $286.85 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.77 and a beta of 0.21. The business has a fifty day simple moving average of $116.76 and a two-hundred day simple moving average of $115.65. 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 52-week low of $73.87 and a 52-week high of $148.43.

Alibaba Group Cuts Dividend

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

Alibaba Group Company 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.