Westend Capital Management LLC Purchases Shares of 98,780 Alibaba Group Holding Limited (NYSE:BABA)

Westend Capital Management LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,780 shares of the specialty retailer's stock, valued at approximately $13,062,000. Alibaba Group makes up about 5.0% of Westend Capital Management LLC's holdings, making the stock its 7th largest holding.

Other hedge funds have also modified their holdings of the company. Berkshire Asset Management LLC PA bought a new stake in Alibaba Group during the 4th quarter worth approximately $911,000. KMG Fiduciary Partners LLC bought a new stake in Alibaba Group during the 1st quarter worth approximately $1,948,000. Bailard Inc. grew its position in Alibaba Group by 46.3% during the 4th quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after acquiring an additional 3,242 shares during the last quarter. Avaii Wealth Management LLC bought a new stake in Alibaba Group during the 1st quarter worth approximately $563,000. Finally, Fiduciary Alliance LLC grew its position in Alibaba Group by 18.3% during the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after acquiring an additional 18,230 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Up 0.2%

Alibaba Group stock opened at $114.11 on Friday. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 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 market capitalization of $272.13 billion, a P/E ratio of 15.32, a PEG ratio of 0.48 and a beta of 0.22. The stock has a 50-day simple moving average of $119.76 and a 200 day simple moving average of $112.82.

Alibaba Group Cuts Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on BABA shares. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Mizuho decreased their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Arete lowered 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. Finally, Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $154.13.

About Alibaba Group

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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