Procyon Advisors LLC Has $3.17 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,982 shares of the specialty retailer's stock after buying an additional 2,822 shares during the quarter. Procyon Advisors LLC's holdings in Alibaba Group were worth $3,171,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Alibaba Group during the 4th quarter valued at $6,478,000. Chicago Partners Investment Group LLC raised its stake in Alibaba Group by 8.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,628 shares of the specialty retailer's stock valued at $220,000 after purchasing an additional 200 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Alibaba Group by 278.1% during the fourth quarter. DAVENPORT & Co LLC now owns 16,898 shares of the specialty retailer's stock worth $1,433,000 after acquiring an additional 12,429 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Alibaba Group by 4.0% in the fourth quarter. Spire Wealth Management now owns 3,814 shares of the specialty retailer's stock valued at $323,000 after purchasing an additional 148 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

BABA traded down $0.48 during midday trading on Friday, reaching $119.48. 9,718,988 shares of the company's stock were exchanged, compared to its average volume of 20,013,870. The business has a 50-day simple moving average of $118.37 and a two-hundred day simple moving average of $109.56. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $285.05 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a one year low of $71.80 and a one year high of $148.43.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is 13.83%.

Analysts Set New Price Targets

A number of research analysts have recently commented on BABA shares. Robert W. Baird cut their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Finally, Bank of America boosted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $154.21.

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.