Townsquare Capital LLC Increases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Townsquare Capital LLC has increased its stake in Alibaba Group by 12.1%, acquiring an additional 8,468 shares, bringing its total holdings to 78,468 shares valued at approximately $10.4 million.
• Several other institutional investors, including Goldman Sachs and Bank of America, have also boosted their positions in Alibaba Group, indicating a trend of increasing investor confidence.
• Alibaba Group's stock is currently down 0.5%, with a market cap of $287.05 billion and a current price around $120.34.

Townsquare Capital LLC lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,468 shares of the specialty retailer's stock after purchasing an additional 8,468 shares during the period. Townsquare Capital LLC's holdings in Alibaba Group were worth $10,376,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the first quarter worth about $26,000. Hazlett Burt & Watson Inc. increased its holdings in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group during the first quarter worth about $31,000. Inlight Wealth Management LLC purchased a new stake in Alibaba Group during the first quarter worth about $31,000. Finally, Valley National Advisers Inc. increased its holdings in Alibaba Group by 151.9% during the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after buying an additional 161 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Mizuho reduced their price objective 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. Robert W. Baird reduced their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $153.29.

Alibaba Group Trading Down 0.5%

NYSE:BABA traded down $0.62 during midday trading on Friday, reaching $120.34. 9,749,766 shares of the stock traded hands, compared to its average volume of 13,689,386. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company has a fifty day moving average of $115.78 and a 200 day moving average of $119.40. The stock has a market capitalization of $287.05 billion, a P/E ratio of 16.15, a PEG ratio of 1.77 and a beta of 0.17. Alibaba Group Holding Limited has a 12 month low of $77.74 and a 12 month high of $148.43.

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 given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 80.0%. Alibaba Group's dividend payout ratio is currently 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.