Secure Asset Management LLC Purchases Shares of 9,962 Alibaba Group Holding Limited (NYSE:BABA)

Secure Asset Management LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,962 shares of the specialty retailer's stock, valued at approximately $1,317,000.

Other hedge funds have also bought and sold shares of the company. Sierra Ocean LLC bought a new stake in Alibaba Group during the fourth quarter worth $32,000. Strategic Investment Solutions Inc. IL raised its stake in shares of Alibaba Group by 59.0% during the 4th 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 during the period. Redwood Park Advisors LLC bought a new stake in shares of Alibaba Group during the 4th quarter valued at $52,000. Vision Financial Markets LLC bought a new stake in shares of Alibaba Group during the 4th quarter valued at $55,000. Finally, Brown Shipley& Co Ltd increased its stake in Alibaba Group by 279.1% in the 4th quarter. Brown Shipley& Co Ltd now owns 652 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 480 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BABA shares. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Benchmark decreased their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Bank of America raised their target price on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Mizuho lowered their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Stock Up 0.4%

Shares of BABA stock traded up $0.54 during mid-day trading on Thursday, hitting $119.99. The company's stock had a trading volume of 15,323,946 shares, compared to its average volume of 20,019,774. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43. The business has a 50-day moving average price of $118.62 and a 200 day moving average price of $109.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $286.26 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The company also recently disclosed 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. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

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.