Rakuten Securities Inc. Sells 2,160 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Rakuten Securities Inc. cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 31.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,665 shares of the specialty retailer's stock after selling 2,160 shares during the period. Rakuten Securities Inc.'s holdings in Alibaba Group were worth $617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Alibaba Group during the first quarter valued at approximately $31,000. Sierra Ocean LLC purchased a new position in shares of Alibaba Group in the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL raised its stake in Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock valued at $46,000 after purchasing an additional 200 shares in the last quarter. Redwood Park Advisors LLC purchased a new stake in Alibaba Group during the fourth quarter valued at $52,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Alibaba Group in the fourth quarter valued at $55,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Down 1.4%

Shares of NYSE:BABA traded down $1.65 during midday trading on Wednesday, reaching $113.38. The company's stock had a trading volume of 13,953,384 shares, compared to its average volume of 19,969,189. The firm has a 50 day moving average price of $118.89 and a two-hundred day moving average price of $111.50. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55. The firm has a market capitalization of $270.44 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on BABA shares. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Mizuho lowered their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Wall Street Zen upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America boosted their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $154.21.

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.