Teachers Retirement System of The State of Kentucky Acquires 7,600 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,680 shares of the specialty retailer's stock after acquiring an additional 7,600 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Alibaba Group were worth $27,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BABA. IFP Advisors Inc increased its position in Alibaba Group by 25.3% in the 1st quarter. IFP Advisors Inc now owns 7,150 shares of the specialty retailer's stock valued at $945,000 after acquiring an additional 1,442 shares in the last quarter. OneAscent Family Office LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $237,000. Kestra Private Wealth Services LLC increased its holdings in shares of Alibaba Group by 14.1% in the first quarter. Kestra Private Wealth Services LLC now owns 22,363 shares of the specialty retailer's stock valued at $2,957,000 after purchasing an additional 2,766 shares in the last quarter. Balentine LLC raised its position in Alibaba Group by 42.1% in the 1st quarter. Balentine LLC now owns 3,763 shares of the specialty retailer's stock worth $498,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Formidable Asset Management LLC lifted its holdings in Alibaba Group by 15.2% during the 1st quarter. Formidable Asset Management LLC now owns 33,059 shares of the specialty retailer's stock worth $4,371,000 after buying an additional 4,360 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Up 2.5%

Alibaba Group stock traded up $2.92 during mid-day trading on Friday, hitting $120.22. 26,729,940 shares of the company's stock were exchanged, compared to its average volume of 20,216,618. The company's 50 day simple moving average is $116.76 and its 200-day simple moving average is $115.65. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $286.85 billion, a P/E ratio of 16.14, a PEG ratio of 1.77 and a beta of 0.22. Alibaba Group Holding Limited has a fifty-two week low of $73.87 and a fifty-two week high of $148.43.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group's dividend payout ratio is 12.75%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Mizuho lowered their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Barclays dropped 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. Finally, 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. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alibaba Group has an average rating of "Moderate Buy" and a consensus price target of $150.80.

About Alibaba Group

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.