Yong Rong HK Asset Management Ltd Purchases 10,000 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Yong Rong HK Asset Management Ltd lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the specialty retailer's stock after purchasing an additional 10,000 shares during the quarter. Alibaba Group accounts for about 1.2% of Yong Rong HK Asset Management Ltd's portfolio, making the stock its 18th largest position. 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after buying an additional 981 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alibaba Group by 96.0% in the fourth quarter. Bank of New York Mellon Corp now owns 172,748 shares of the specialty retailer's stock worth $14,647,000 after purchasing an additional 84,604 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Alibaba Group in the fourth quarter worth $1,063,000. Assetmark Inc. grew its stake in shares of Alibaba Group by 3,405.5% in the fourth quarter. Assetmark Inc. now owns 13,917 shares of the specialty retailer's stock worth $1,180,000 after purchasing an additional 13,520 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of Alibaba Group by 1.2% in the fourth quarter. Atria Investments Inc now owns 35,191 shares of the specialty retailer's stock worth $2,984,000 after purchasing an additional 414 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BABA shares. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Citigroup reduced their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research note on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Trading Down 2.2%

Shares of NYSE:BABA traded down $2.37 on Monday, hitting $106.33. The company had a trading volume of 17,375,569 shares, compared to its average volume of 19,982,483. The firm's 50-day simple moving average is $119.19 and its two-hundred day simple moving average is $114.03. Alibaba Group Holding Limited has a 1 year low of $72.95 and a 1 year high of $148.43. 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 market capitalization of $253.73 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. 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.