Sierra Summit Advisors LLC Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Sierra Summit Advisors LLC reduced its stake in Alibaba by 34.4%, leaving it with 50,155 shares valued at approximately $6.63 million.
• Goldman Sachs increased its holdings in Alibaba by 22.6%, while other investors like Mirae Asset Global Investments significantly boosted their positions as well.
• Alibaba's stock is currently valued at $120.34, and it has seen a recent dividend payout of $0.95 with a yield of 80.0%.

Sierra Summit Advisors LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 34.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,155 shares of the specialty retailer's stock after selling 26,289 shares during the period. Alibaba Group comprises about 1.4% of Sierra Summit Advisors LLC's holdings, making the stock its 27th biggest position. Sierra Summit Advisors LLC's holdings in Alibaba Group were worth $6,632,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Bank of America Corp DE boosted its position in Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Alibaba Group by 19.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after purchasing an additional 752,275 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Alibaba Group by 1.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after purchasing an additional 44,901 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Down 0.5%

BABA stock opened at $120.34 on Friday. 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 company's 50 day moving average is $115.78 and its 200 day moving average is $119.17. The stock has a market cap of $287.05 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.17. Alibaba Group Holding Limited has a 1-year low of $77.74 and a 1-year high of $148.43.

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 dividend yield of 80.0%. The ex-dividend date was Thursday, June 12th. Alibaba Group's dividend payout ratio is 12.75%.

Wall Street Analyst Weigh In

BABA has been the subject of a number of research reports. Barclays cut their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report on Tuesday, June 24th. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. 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, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price 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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