TrueMark Investments LLC Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

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

Several other institutional investors also recently modified their holdings of the company. Appaloosa LP grew its holdings in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Norges Bank acquired a new position in shares of Alibaba Group during the 4th quarter worth approximately $585,479,000. Bank of America Corp DE raised its stake in 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 valued at $566,124,000 after acquiring an additional 438,537 shares during the period. Fisher Asset Management LLC lifted 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 valued at $431,906,000 after purchasing an additional 78,757 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 worth $390,885,000 after purchasing an additional 752,275 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

NYSE:BABA opened at $112.91 on Monday. The company has a market cap of $269.27 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.46 and a beta of 0.22. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55. The stock has a fifty day moving average price of $119.34 and a 200-day moving average price of $112.27.

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 given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is 13.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho cut their target price 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. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Finally, Benchmark dropped their price target on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $154.21.

Alibaba Group Company 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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