Brave Asset Management Inc. Invests $283,000 in Alibaba Group Holding Limited (NYSE:BABA)

Brave Asset Management Inc. purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,140 shares of the specialty retailer’s stock, valued at approximately $283,000.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Alibaba Group in the fourth quarter worth approximately $6,478,000. Chicago Partners Investment Group LLC boosted its stake in shares of Alibaba Group by 8.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,628 shares of the specialty retailer’s stock worth $220,000 after acquiring an additional 200 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Alibaba Group by 278.1% during the fourth quarter. DAVENPORT & Co LLC now owns 16,898 shares of the specialty retailer’s stock worth $1,433,000 after buying an additional 12,429 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in 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 during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of research analyst reports. Citigroup reduced their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Bank of America boosted their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Barclays upped their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Arete Research upgraded Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and a consensus price target of $154.21.

Alibaba Group Stock Up 0.2%

BABA opened at $115.01 on Wednesday. Alibaba Group Holding Limited has a 12 month low of $71.80 and a 12 month 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 stock has a market cap of $274.38 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.61 and a beta of 0.24. The stock’s 50 day moving average price is $118.88 and its 200 day moving average price is $109.28.

Alibaba Group Cuts Dividend

The company also recently declared a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s dividend payout ratio (DPR) is presently 13.83%.

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.