Park Avenue Securities LLC Sells 1,097 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Park Avenue Securities LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,368 shares of the specialty retailer’s stock after selling 1,097 shares during the period. Park Avenue Securities LLC’s holdings in Alibaba Group were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Alibaba Group in the 4th quarter valued at $585,479,000. Renaissance Technologies LLC boosted its position in Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock valued at $254,000,000 after buying an additional 2,024,640 shares during the period. Appaloosa LP boosted its position in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the period. Janus Henderson Group PLC boosted its position in Alibaba Group by 95.4% during 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 buying an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd boosted its position in 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 buying an additional 908,544 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $121.96 on Wednesday. The firm’s 50-day moving average price is $117.79 and its 200-day moving average price is $110.46. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a market cap of $290.99 billion, a PE ratio of 17.62, a PEG ratio of 0.61 and a beta of 0.22. 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 firm also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group’s payout ratio is 13.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BABA. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Finally, Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. One equities 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. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average 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.