Alibaba Group Holding Limited (NYSE:BABA) Holdings Lowered by Boothe Investment Group Inc.

Boothe Investment Group Inc. trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 40.1% during the first quarter, Holdings Channel reports. The institutional investor owned 54,179 shares of the specialty retailer’s stock after selling 36,249 shares during the period. Alibaba Group makes up about 3.3% of Boothe Investment Group Inc.’s holdings, making the stock its 11th largest position. Boothe Investment Group Inc.’s holdings in Alibaba Group were worth $7,164,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BABA. Bruce G. Allen Investments LLC bought a new position in Alibaba Group during the first quarter valued at about $31,000. Sierra Ocean LLC bought a new position in Alibaba Group during the fourth quarter valued at about $32,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Alibaba Group by 59.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 200 shares during the last quarter. Redwood Park Advisors LLC purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $52,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $55,000. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BABA shares. Wall Street Zen raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Saturday. Arete Research raised Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Bank of America upped their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Finally, Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $154.21.

Alibaba Group Price Performance

Shares of BABA opened at $112.71 on Monday. The company has a market capitalization of $268.93 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 0.61 and a beta of 0.22. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day moving average is $118.35 and its 200-day moving average is $111.27.

Alibaba Group Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s dividend payout ratio is 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.