Sterneck Capital Management LLC Sells 11,228 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Sterneck Capital Management LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 52.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,117 shares of the specialty retailer's stock after selling 11,228 shares during the period. Alibaba Group accounts for about 0.7% of Sterneck Capital Management LLC's holdings, making the stock its 29th largest position. Sterneck Capital Management LLC's holdings in Alibaba Group were worth $1,338,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Berkshire Asset Management LLC PA acquired a new position in shares of Alibaba Group during the 4th quarter valued at about $911,000. Bailard Inc. increased its holdings in shares of Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock valued at $869,000 after acquiring an additional 3,242 shares during the last quarter. Brandywine Global Investment Management LLC increased its holdings in shares of Alibaba Group by 18.7% during the 4th quarter. Brandywine Global Investment Management LLC now owns 268,768 shares of the specialty retailer's stock valued at $22,789,000 after acquiring an additional 42,290 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alibaba Group by 19.5% during the 4th 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 valued at $390,885,000 after acquiring an additional 752,275 shares during the last quarter. Finally, Global Frontier Investments LLC acquired a new position in shares of Alibaba Group during the 4th quarter valued at about $4,239,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup lowered their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Finally, Mizuho decreased their price objective 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 investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $154.21.

Alibaba Group Stock Up 0.2%

Shares of Alibaba Group stock traded up $0.26 during trading on Tuesday, reaching $115.01. The stock had a trading volume of 13,650,585 shares, compared to its average volume of 19,960,655. The company has a market capitalization of $274.38 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.61 and a beta of 0.24. The stock has a fifty day moving average price of $119.29 and a two-hundred day moving average price of $109.24. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is 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.