Thornburg Investment Management Inc. Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Thornburg Investment Management Inc. reduced its stake in Alibaba Group by 0.8%, now holding 493,774 shares worth approximately $65.3 million, making it the 28th largest position in their portfolio.
• In contrast, Bank of America Corp DE and UBS AM significantly increased their positions in Alibaba during the fourth quarter, showing stronger institutional buying interest in the stock.
• Analysts have mixed views on Alibaba, with Barclays lowering their target price to $145 but maintaining an "overweight" rating, indicating ongoing confidence despite recent challenges.

Thornburg Investment Management Inc. trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,774 shares of the specialty retailer's stock after selling 4,159 shares during the period. Alibaba Group comprises 0.9% of Thornburg Investment Management Inc.'s investment portfolio, making the stock its 28th largest position. Thornburg Investment Management Inc.'s holdings in Alibaba Group were worth $65,292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE grew its position in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after buying an additional 438,537 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alibaba Group by 19.5% during the fourth 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 purchasing an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in Alibaba Group by 1.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after acquiring an additional 44,901 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on BABA shares. Barclays dropped their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Bank of America decreased their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. 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. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Alibaba Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Trading Up 1.8%

Shares of BABA stock opened at $122.19 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The stock's 50 day simple moving average is $115.94 and its two-hundred day simple moving average is $117.42. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The company has a market cap of $291.47 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.77 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

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.

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