Ruffer LLP Sells 398,995 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Ruffer LLP has decreased its stake in Alibaba Group by 24.8%, selling 398,995 shares, while retaining approximately 1.21 million shares, which now represents 6.2% of its portfolio.
• Several institutional investors have recently acquired stakes in Alibaba, with 13.47% of the stock currently held by such investors.
• Despite recent fluctuations, analysts maintain a consensus rating of "Moderate Buy" on Alibaba stock, with an average price target set at $153.29.

Ruffer LLP reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 24.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,210,409 shares of the specialty retailer's stock after selling 398,995 shares during the quarter. Alibaba Group comprises 6.2% of Ruffer LLP's portfolio, making the stock its 5th biggest holding. Ruffer LLP owned approximately 0.05% of Alibaba Group worth $160,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. WCM Investment Management LLC bought a new stake in shares of Alibaba Group in the first quarter valued at about $4,074,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group in the first quarter valued at about $1,948,000. Avaii Wealth Management LLC bought a new stake in shares of Alibaba Group in the first quarter valued at about $563,000. Fiduciary Alliance LLC lifted its stake in shares of 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 buying an additional 18,230 shares during the period. Finally, Summa Corp. lifted its stake 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 during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

NYSE:BABA opened at $117.06 on Monday. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The firm has a 50 day moving average of $115.61 and a 200-day moving average of $118.45. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $279.23 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.17.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a $0.95 dividend. This represents a yield of 80.0%. The ex-dividend date was Thursday, June 12th. Alibaba Group's payout ratio is 12.75%.

Analysts Set New Price Targets

BABA has been the subject of a number of analyst reports. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Bank of America cut their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Arete cut shares of 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. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of "Moderate Buy" and an average price target of $153.29.

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.

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