Todd Asset Management LLC Raises Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Todd Asset Management LLC increased its stake in Alibaba Group by 2.0% during the first quarter, holding 315,315 shares valued at approximately $41.7 million.
• Institutional investors collectively own 13.47% of Alibaba Group's stock, while several other firms like Goldman Sachs and Bank of America have also raised their positions in the company.
• Analysts have mixed opinions on Alibaba, with Bank of America lowering their price target to $135 while maintaining a "buy" rating, and a consensus rating of "Moderate Buy" with an average target price of $153.29.

Todd Asset Management LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 315,315 shares of the specialty retailer's stock after purchasing an additional 6,080 shares during the quarter. Todd Asset Management LLC's holdings in Alibaba Group were worth $41,694,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Accent Capital Management LLC lifted its holdings in Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after buying an additional 82 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the last quarter. Marcum Wealth LLC lifted its holdings in shares of Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after purchasing an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its holdings in shares of Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $153.29.

Alibaba Group Stock Performance

Shares of BABA stock traded up $3.91 during trading hours on Tuesday, reaching $122.55. 11,908,433 shares of the company's stock were exchanged, compared to its average volume of 13,580,867. The company has a market cap of $292.26 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.17. The company's 50 day moving average is $116.00 and its two-hundred day moving average is $119.86. Alibaba Group Holding Limited has a 1 year low of $77.74 and a 1 year 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 1.55.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a dividend yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's dividend 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.