16,896 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by TrueMark Investments LLC

TrueMark Investments LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,896 shares of the specialty retailer's stock, valued at approximately $2,234,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Appaloosa LP raised its position in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after acquiring an additional 1,843,158 shares in the last quarter. Norges Bank bought a new stake in Alibaba Group in the fourth quarter worth about $585,479,000. Bank of America Corp DE raised its holdings in Alibaba Group by 7.0% during 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 period. Fisher Asset Management LLC raised its holdings in Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after buying an additional 78,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alibaba Group by 19.5% during the 4th 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 worth $390,885,000 after buying an additional 752,275 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wall Street Zen upgraded Alibaba Group from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock 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. Finally, Benchmark cut their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.13.

Alibaba Group Stock Down 0.5%

Shares of BABA traded down $0.57 during trading hours on Thursday, reaching $113.99. The company's stock had a trading volume of 8,305,752 shares, compared to its average volume of 19,966,796. The firm has a market cap of $271.84 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $119.66 and a two-hundred day moving average of $112.65.

Alibaba Group Cuts Dividend

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

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.