Waverton Investment Management Ltd Sells 23,200 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Waverton Investment Management Ltd reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 57.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,971 shares of the specialty retailer's stock after selling 23,200 shares during the quarter. Waverton Investment Management Ltd's holdings in Alibaba Group were worth $2,244,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Marcum Wealth LLC lifted its position in shares of Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after purchasing an additional 86 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares in the last quarter. Rings Capital Management LLC boosted its stake in shares of Alibaba Group by 1.4% during the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after buying an additional 100 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after acquiring an additional 101 shares in the last quarter. Finally, Global Endowment Management LP boosted its holdings in shares of Alibaba Group by 1.4% in the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after buying an additional 106 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent research reports. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a research report on Tuesday. Citigroup dropped their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird lowered their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Finally, Benchmark decreased their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.13.

Alibaba Group Stock Performance

BABA opened at $113.99 on Friday. The stock has a market capitalization of $271.84 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.48 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 company has a fifty day moving average of $119.66 and a 200 day moving average of $112.65.

Alibaba Group Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.