Elequin Capital LP Lowers Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Elequin Capital LP lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 27.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,125 shares of the specialty retailer’s stock after selling 423 shares during the period. Elequin Capital LP’s holdings in Alibaba Group were worth $95,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BABA. Aurora Investment Managers LLC. lifted its position in shares of Alibaba Group by 4.4% in the fourth quarter. Aurora Investment Managers LLC. now owns 76,486 shares of the specialty retailer’s stock valued at $6,485,000 after acquiring an additional 3,236 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Alibaba Group by 5.9% during the fourth quarter. Ballentine Partners LLC now owns 13,892 shares of the specialty retailer’s stock worth $1,178,000 after purchasing an additional 779 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Alibaba Group by 3.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 128,015 shares of the specialty retailer’s stock valued at $10,855,000 after purchasing an additional 4,264 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in Alibaba Group by 12.2% in the 4th quarter. Atomi Financial Group Inc. now owns 22,489 shares of the specialty retailer’s stock valued at $1,907,000 after purchasing an additional 2,443 shares in the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new position in Alibaba Group in the 4th quarter valued at $8,976,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Alibaba Group stock opened at $125.15 on Wednesday. The stock has a market cap of $298.85 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company has a fifty day simple moving average of $122.84 and a 200-day simple moving average of $107.63. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Equities analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s payout ratio is 13.15%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BABA. Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup lowered their price target 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. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday. Arete Research upgraded Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $154.21.

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.