Zweig DiMenna Associates LLC Takes Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Zweig DiMenna Associates LLC invested approximately $17.34 million in Alibaba Group, acquiring 131,100 shares, which now constitutes around 2.7% of their investment portfolio.
• Alibaba has recently reduced its dividend yield to 0.8%, with a payout ratio of 12.75%, reflecting a strategic adjustment in their financial policies.
• Analysts have set varying price targets for Alibaba, with Barclays lowering its target from $180 to $145, while investment ratings range from "hold" to "overweight."

Zweig DiMenna Associates LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 131,100 shares of the specialty retailer's stock, valued at approximately $17,335,000. Alibaba Group accounts for 2.7% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 8th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $585,479,000. Bank of America Corp DE boosted its stake in shares of Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after acquiring an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alibaba Group by 19.5% in the 4th 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 valued at $390,885,000 after acquiring an additional 752,275 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Alibaba Group by 1.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after buying an additional 44,901 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BABA shares. Bank of America reduced their price target on shares of 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 cut their price objective 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. Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $150.80.

Alibaba Group Trading Down 0.9%

NYSE BABA traded down $1.11 during mid-day trading on Friday, reaching $120.05. 7,032,735 shares of the stock were exchanged, compared to its average volume of 14,650,496. Alibaba Group Holding Limited has a 1-year low of $73.87 and a 1-year high of $148.43. The business's fifty day simple moving average is $115.96 and its 200 day simple moving average is $116.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $286.43 billion, a PE ratio of 16.11, a PEG ratio of 1.78 and a beta of 0.21.

Alibaba Group Cuts Dividend

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

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.