Yong Rong HK Asset Management Ltd Has $5.29 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Yong Rong HK Asset Management Ltd grew its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the specialty retailer's stock after buying an additional 10,000 shares during the period. Alibaba Group accounts for about 1.2% of Yong Rong HK Asset Management Ltd's holdings, making the stock its 18th biggest holding. Yong Rong HK Asset Management Ltd's holdings in Alibaba Group were worth $5,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BABA. Appaloosa LP increased its position in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Norges Bank bought a new stake in shares of Alibaba Group in the 4th quarter valued at $585,479,000. Bank of America Corp DE increased its position in shares of Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after buying an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 buying an additional 752,275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after buying an additional 4,246,564 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on BABA shares. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Mizuho dropped their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research note on Wednesday, May 14th. Benchmark lowered their target price on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $154.13.

Alibaba Group Trading Down 1.8%

BABA opened at $108.67 on Monday. Alibaba Group Holding Limited has a fifty-two week low of $72.95 and a fifty-two week high of $148.43. The firm has a market capitalization of $259.31 billion, a PE ratio of 14.59, a P/E/G ratio of 0.47 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company's 50-day moving average is $119.19 and its 200 day moving average is $114.03.

Alibaba Group Cuts Dividend

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

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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