Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Zurcher Kantonalbank reduced its stake in Alibaba Group by 28.9%, holding 13,222 shares valued at approximately $1.75 million.
• Barclays and Mizuho have both adjusted their price targets for Alibaba Group downward, with Barclays setting a new target of $145.00.
• Alibaba Group recently paid a $0.95 per share dividend, representing a dividend yield of 80.0% and a payout ratio of 12.75%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,222 shares of the specialty retailer's stock after selling 5,367 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Alibaba Group were worth $1,748,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BABA. Hazlett Burt & Watson Inc. increased its position in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at approximately $31,000. Inlight Wealth Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at approximately $31,000. Valley National Advisers Inc. grew its stake in shares of Alibaba Group by 151.9% in the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 161 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Alibaba Group in the first quarter worth $35,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays cut their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus price target of $153.29.

Alibaba Group Trading Down 3.0%

NYSE BABA traded down $3.57 during trading hours on Friday, reaching $117.06. The company's stock had a trading volume of 12,191,248 shares, compared to its average volume of 15,299,974. The firm has a fifty day simple moving average of $115.61 and a 200-day simple moving average of $118.20. The stock has a market cap of $279.23 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.72 and a beta of 0.17. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a dividend yield of 80.0%. The ex-dividend date 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.