Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Kingstone Capital Partners Texas LLC

Kingstone Capital Partners Texas LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,631 shares of the specialty retailer’s stock after selling 348 shares during the quarter. Kingstone Capital Partners Texas LLC’s holdings in Alibaba Group were worth $480,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $6,478,000. Silver Oak Securities Incorporated acquired a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $265,000. Strategic Financial Concepts LLC purchased a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $3,020,000. Finally, Golden State Wealth Management LLC acquired a new position in Alibaba Group during the fourth quarter worth $60,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Up 1.8%

Shares of NYSE BABA opened at $121.50 on Tuesday. The firm’s 50-day moving average is $117.94 and its two-hundred day moving average is $110.38. The company has a market capitalization of $289.90 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. 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.

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 paid a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s payout ratio is currently 13.83%.

Analyst Ratings Changes

A number of equities research analysts have commented on BABA shares. Wall Street Zen downgraded Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Citigroup cut their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Mizuho reduced their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average target price of $154.21.

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.