Sei Investments Co. Purchases 222,666 Shares of Alibaba Group Holding Limited $BABA

Sei Investments Co. raised its position in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 63.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 573,409 shares of the specialty retailer’s stock after purchasing an additional 222,666 shares during the period. Sei Investments Co.’s holdings in Alibaba Group were worth $71,940,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hoey Investments Inc. raised its holdings in shares of Alibaba Group by 95.2% in the 1st quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 100 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of Alibaba Group during the 4th quarter valued at about $34,000. Palisade Asset Management LLC purchased a new position in shares of Alibaba Group during the third quarter worth about $37,000. Palladiem LLC purchased a new position in shares of Alibaba Group during the fourth quarter worth about $38,000. Finally, SJS Investment Consulting Inc. increased its position in shares of Alibaba Group by 15,000.0% in the first quarter. SJS Investment Consulting Inc. now owns 302 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $112.26 on Friday. The stock has a market cap of $269.09 billion, a PE ratio of 18.43, a PEG ratio of 2.10 and a beta of 0.51. The company’s fifty day moving average is $114.46 and its 200 day moving average is $134.07. Alibaba Group Holding Limited has a 52 week low of $91.99 and a 52 week high of $192.67. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21.

Alibaba Group (NYSE:BABAGet Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The specialty retailer reported $0.01 earnings per share for the quarter. Alibaba Group had a net margin of 10.31% and a return on equity of 4.76%. The business had revenue of $35.30 billion during the quarter. Research analysts anticipate that Alibaba Group Holding Limited will post 6.28 earnings per share for the current year.

Alibaba Group Announces Dividend

The business also recently announced an annual dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 11th were paid a $1.05 dividend. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend was Thursday, June 11th. Alibaba Group’s payout ratio is 16.91%.

Insider Buying and Selling

In related news, President J. Michael Evans sold 720,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $94.95, for a total transaction of $68,364,000.00. Following the completion of the sale, the president directly owned 28,000 shares in the company, valued at $2,658,600. This represents a 96.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Fang Jiang sold 4,898 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $12.09, for a total value of $59,216.82. Following the sale, the insider owned 5,559,511 shares of the company’s stock, valued at $67,214,487.99. This represents a 0.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 920,303 shares of company stock worth $70,796,370 in the last 90 days. 12.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BABA shares. Wall Street Zen raised shares of Alibaba Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Mizuho increased their price target on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Susquehanna raised their price objective on shares of Alibaba Group from $170.00 to $185.00 and gave the company a “positive” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alibaba Group in a report on Wednesday, May 27th. Finally, HSBC set a $170.00 target price on shares of Alibaba Group in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $186.90.

Check Out Our Latest Analysis on Alibaba Group

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Alibaba Group Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

Further Reading

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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