WNY Asset Management LLC Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

WNY Asset Management LLC reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 65.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,367 shares of the specialty retailer's stock after selling 4,453 shares during the quarter. WNY Asset Management LLC's holdings in Alibaba Group were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group during the first quarter worth about $31,000. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $31,000. Valley National Advisers Inc. lifted its stake in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock valued at $35,000 after acquiring an additional 161 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in Alibaba Group during the 1st quarter valued at approximately $35,000. Finally, ORG Partners LLC raised its position in Alibaba Group by 950.0% during the 1st quarter. ORG Partners LLC now owns 315 shares of the specialty retailer's stock valued at $42,000 after purchasing an additional 285 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday. Barclays lowered their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Bank of America lowered their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Robert W. Baird decreased their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $150.80.

Alibaba Group Price Performance

BABA traded down $1.63 during trading on Thursday, reaching $120.95. The company's stock had a trading volume of 7,561,166 shares, compared to its average volume of 22,483,240. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $116.07 and a two-hundred day simple moving average of $116.18. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The company has a market cap of $288.60 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.78 and a beta of 0.21.

Alibaba Group Cuts Dividend

The company also recently declared a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's payout ratio is presently 12.75%.

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.