Summa Corp. Has $9.48 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Summa Corp. grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 28.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,673 shares of the specialty retailer's stock after purchasing an additional 16,000 shares during the period. Alibaba Group makes up 5.5% of Summa Corp.'s portfolio, making the stock its 4th biggest holding. Summa Corp.'s holdings in Alibaba Group were worth $9,477,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its holdings in shares of Alibaba Group by 372.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 13,079 shares of the specialty retailer's stock worth $1,735,000 after acquiring an additional 10,311 shares during the last quarter. Essex Savings Bank bought a new stake in shares of Alibaba Group during the 1st quarter worth $228,000. Clarius Group LLC bought a new stake in shares of Alibaba Group during the 1st quarter worth $236,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Alibaba Group during the 1st quarter worth $267,000. Finally, NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd bought a new stake in shares of Alibaba Group during the 1st quarter worth $2,136,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BABA shares. Wall Street Zen raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Citigroup lowered their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Mizuho lowered their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Trading Down 0.5%

Shares of NYSE:BABA traded down $0.58 during midday trading on Friday, hitting $112.91. 12,684,022 shares of the stock traded hands, compared to its average volume of 20,019,859. The stock has a market capitalization of $269.30 billion, a PE ratio of 15.16, a P/E/G ratio of 0.46 and a beta of 0.22. The business's 50 day moving average is $119.34 and its two-hundred day moving average is $112.08. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $71.80 and a one year high of $148.43.

Alibaba Group Cuts Dividend

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

Alibaba Group 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.