Sound Income Strategies LLC Has $110,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sound Income Strategies LLC lessened its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 77.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 829 shares of the specialty retailer's stock after selling 2,894 shares during the quarter. Sound Income Strategies LLC's holdings in Alibaba Group were worth $110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group during the 1st quarter valued at approximately $31,000. Sierra Ocean LLC acquired a new stake in shares of Alibaba Group during the 4th quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL increased its position in Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock worth $46,000 after buying an additional 200 shares during the period. Redwood Park Advisors LLC acquired a new stake in Alibaba Group in the fourth quarter worth $52,000. Finally, Vision Financial Markets LLC acquired a new stake in Alibaba Group in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Mizuho dropped their target price 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. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Sanford C. Bernstein raised Alibaba Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Finally, Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $154.21.

Alibaba Group Price Performance

BABA stock traded down $1.65 during trading hours on Wednesday, hitting $113.38. 13,953,384 shares of the stock traded hands, compared to its average volume of 19,969,189. The stock has a 50-day simple moving average of $118.89 and a 200 day simple moving average of $111.50. Alibaba Group Holding Limited has a one year low of $71.80 and a one year high of $148.43. The company has a market cap of $270.44 billion, a P/E ratio of 15.22, a P/E/G ratio of 0.47 and a beta of 0.22. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is currently 13.83%.

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.