Alibaba Group Holding Limited (NYSE:BABA) Stake Lowered by Selective Wealth Management Inc.

Selective Wealth Management Inc. lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,796 shares of the specialty retailer’s stock after selling 1,077 shares during the quarter. Alibaba Group comprises about 0.7% of Selective Wealth Management Inc.’s portfolio, making the stock its 22nd biggest holding. Selective Wealth Management Inc.’s holdings in Alibaba Group were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Alibaba Group in the 4th quarter worth $585,479,000. Renaissance Technologies LLC grew its holdings in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after acquiring an additional 2,024,640 shares during the period. Appaloosa LP raised its position in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after acquiring an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock valued at $179,087,000 after acquiring an additional 1,030,999 shares during the last quarter. Finally, Polunin Capital Partners Ltd boosted its position in shares of Alibaba Group by 218.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer’s stock valued at $175,221,000 after purchasing an additional 908,544 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA opened at $119.48 on Monday. The company has a 50 day moving average price of $118.11 and a two-hundred day moving average price of $110.11. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43. The stock has a market capitalization of $285.08 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The business also recently announced a — dividend, which will be paid on Thursday, July 10th. Investors 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 yield of 0.8%. Alibaba Group’s dividend payout ratio (DPR) is currently 13.83%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Barclays raised their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.