Scotia Capital Inc. Trims Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Scotia Capital Inc. reduced its stake in Alibaba Group by 14.4%, selling 5,006 shares and bringing its total holdings to 29,816 shares, valued at approximately $3.94 million.
• Wall Street analysts have set varying target prices for Alibaba, with Morgan Stanley at $180.00 and Barclays at $145.00, while the stock currently holds a Moderate Buy rating.
• Alibaba recently declared a dividend of $0.95 per share, with a payout ratio of 12.75%, although the yield is noted at 80.0%.

Scotia Capital Inc. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,816 shares of the specialty retailer's stock after selling 5,006 shares during the period. Scotia Capital Inc.'s holdings in Alibaba Group were worth $3,943,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares in the last quarter. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group during the first quarter valued at about $31,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group in the first quarter worth about $31,000. LFA Lugano Financial Advisors SA bought a new position in shares of Alibaba Group in the first quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. grew its stake in Alibaba Group by 151.9% during the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent analyst reports. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Mizuho lowered their price objective 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. Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Bank of America lowered their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Stock Up 0.3%

BABA opened at $117.40 on Tuesday. The company has a market cap of $280.04 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.72 and a beta of 0.17. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43. The business's 50-day moving average price is $115.54 and its 200-day moving average price is $118.68. 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 company also recently declared a -- dividend, which was paid on Thursday, July 10th. Shareholders 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 yield of 80.0%. Alibaba Group's dividend payout ratio is presently 12.75%.

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.

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