Waterfront Wealth Inc. Sells 2,737 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Waterfront Wealth Inc. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,474 shares of the specialty retailer's stock after selling 2,737 shares during the quarter. Waterfront Wealth Inc.'s holdings in Alibaba Group were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC bought a new stake in Alibaba Group during the first quarter valued at about $31,000. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the first quarter worth about $31,000. ORG Partners LLC boosted its holdings in Alibaba Group by 950.0% in the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock worth $42,000 after acquiring an additional 285 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Alibaba Group in the first quarter worth about $61,000. Finally, IAG Wealth Partners LLC boosted its holdings in Alibaba Group by 67.2% in the first quarter. IAG Wealth Partners LLC now owns 515 shares of the specialty retailer's stock worth $68,000 after acquiring an additional 207 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report on Tuesday, June 24th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. 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 research note on Friday, May 16th. Benchmark reduced their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Alibaba Group has an average rating of "Moderate Buy" and a consensus price target of $154.13.

Alibaba Group Stock Up 0.2%

Shares of BABA stock opened at $114.11 on Friday. The stock has a market cap of $272.13 billion, a P/E ratio of 15.32, a P/E/G ratio of 0.48 and a beta of 0.22. Alibaba Group Holding Limited has a twelve month low of $71.97 and a twelve month high of $148.43. The stock has a 50 day moving average of $119.76 and a 200 day moving average of $112.99. The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio (DPR) is presently 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.

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