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

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

Several other institutional investors have also recently made changes to their positions in BABA. Marcum Wealth LLC raised its stake in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after acquiring an additional 86 shares in the last quarter. Rings Capital Management LLC boosted its stake in Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after purchasing an additional 100 shares in the last quarter. Lindbrook Capital LLC grew its position in Alibaba Group by 3.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock worth $240,000 after purchasing an additional 101 shares during the last quarter. Global Endowment Management LP increased its stake in Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after purchasing an additional 106 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Alibaba Group by 3.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after buying an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of BABA stock opened at $115.08 on Wednesday. The firm's 50-day moving average is $118.89 and its two-hundred day moving average is $111.50. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. The company has a market capitalization of $274.48 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on BABA. Barclays lifted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Robert W. Baird dropped their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Fifteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $154.21.

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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