Ridgewood Investments LLC Cuts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Ridgewood Investments LLC reduced its stake in Alibaba Group by 32.5%, now holding 11,644 shares valued at $1,540,000, as per its latest SEC filing.
• Several institutional investors, including WCM Investment Management LLC and KMG Fiduciary Partners LLC, have rapidly acquired new positions in Alibaba Group during the first quarter.
• Alibaba recently declared a dividend of $0.95 per share, yielding 0.8%, with a payout ratio of 12.75%.

Ridgewood Investments LLC cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,644 shares of the specialty retailer's stock after selling 5,614 shares during the quarter. Ridgewood Investments LLC's holdings in Alibaba Group were worth $1,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WCM Investment Management LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth approximately $4,074,000. KMG Fiduciary Partners LLC acquired a new position in Alibaba Group during the first quarter worth $1,948,000. Avaii Wealth Management LLC purchased a new stake in Alibaba Group during the first quarter worth $563,000. Fiduciary Alliance LLC grew its holdings in Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the last quarter. Finally, Summa Corp. increased its position in shares of Alibaba Group by 28.7% in the first quarter. Summa Corp. now owns 71,673 shares of the specialty retailer's stock valued at $9,477,000 after buying an additional 16,000 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Alibaba Group stock opened at $120.05 on Friday. The stock has a fifty day moving average price of $115.96 and a 200 day moving average price of $116.90. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The firm has a market capitalization of $286.43 billion, a P/E ratio of 16.11, a PEG ratio of 1.77 and a beta of 0.21. 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 business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 12.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BABA. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Bank of America reduced their target price 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. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

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.

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