Shengqi Capital Hong Kong Ltd Acquires Shares of 350,718 Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Shengqi Capital Hong Kong Ltd acquired 350,718 shares of Alibaba Group, valued at approximately $46.4 million, making it the company's second largest position.
• Several institutional investors have modified their holdings in Alibaba Group, with significant increases in stakes observed from firms like Hazlett Burt & Watson Inc., which increased its stake by 1,960%.
• Analysts have downgraded Alibaba Group's rating from "buy" to "neutral" and set a lower price target, while the stock maintains a consensus rating of "Moderate Buy" with an average target price of $153.29.

Shengqi Capital Hong Kong Ltd acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 350,718 shares of the specialty retailer's stock, valued at approximately $46,375,000. Alibaba Group comprises 32.6% of Shengqi Capital Hong Kong Ltd's holdings, making the stock its 2nd largest position.

A number of other institutional investors have also modified their holdings of BABA. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its stake 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 buying an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC purchased a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Finally, Valley National Advisers Inc. increased its stake in Alibaba Group by 151.9% during the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research note on Tuesday, June 24th. Robert W. Baird cut their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Barclays lowered their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group Trading Down 0.5%

BABA opened at $120.34 on Friday. Alibaba Group Holding Limited has a one year low of $77.74 and a one year high of $148.43. The stock has a market capitalization of $287.05 billion, a PE ratio of 16.15, a P/E/G ratio of 1.77 and a beta of 0.17. The business's 50 day moving average price is $115.78 and its 200 day moving average price is $119.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

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

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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