Noble Wealth Management PBC Purchases New Shares in Alibaba Group Holding Limited (NYSE:BABA)

Noble Wealth Management PBC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,785 shares of the specialty retailer’s stock, valued at approximately $236,000.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. One 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. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and an average target price of $154.21.

Alibaba Group Stock Performance

NYSE BABA opened at $120.30 on Thursday. 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 Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The business has a fifty day moving average of $117.87 and a 200-day moving average of $110.53. The stock has a market cap of $287.04 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22.

Alibaba Group Cuts Dividend

The company 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 of this dividend is Thursday, June 12th. Alibaba Group’s payout ratio is 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.