2,178 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Diligent Investors LLC

Diligent Investors LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 2,178 shares of the specialty retailer’s stock, valued at approximately $288,000.

A number of other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after acquiring an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Alibaba Group in the 4th quarter valued at approximately $6,478,000. Chicago Partners Investment Group LLC raised its position in shares of Alibaba Group by 8.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,628 shares of the specialty retailer’s stock valued at $220,000 after purchasing an additional 200 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Alibaba Group by 278.1% during the 4th quarter. DAVENPORT & Co LLC now owns 16,898 shares of the specialty retailer’s stock valued at $1,433,000 after buying an additional 12,429 shares during the last quarter. Finally, Spire Wealth Management grew its position in shares of Alibaba Group by 4.0% during the fourth quarter. Spire Wealth Management now owns 3,814 shares of the specialty retailer’s stock worth $323,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.4%

NYSE:BABA opened at $119.99 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $118.37 and a 200-day moving average of $109.56. The firm has a market capitalization of $286.26 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43.

Alibaba Group Cuts Dividend

The business 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s payout ratio is currently 13.83%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BABA shares. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Mizuho reduced their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Finally, Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $154.21.

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.