Net Worth Advisory Group Sells 2,310 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Net Worth Advisory Group lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 44.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,903 shares of the specialty retailer’s stock after selling 2,310 shares during the quarter. Net Worth Advisory Group’s holdings in Alibaba Group were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Sapient Capital LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $14,912,000. Simon Quick Advisors LLC grew its holdings in shares of Alibaba Group by 116.5% during the 1st quarter. Simon Quick Advisors LLC now owns 5,684 shares of the specialty retailer’s stock worth $752,000 after purchasing an additional 3,059 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $236,000. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $235,000. Finally, Focus Financial Network Inc. grew its holdings in shares of Alibaba Group by 3.0% during the 1st quarter. Focus Financial Network Inc. now owns 8,829 shares of the specialty retailer’s stock worth $1,167,000 after purchasing an additional 254 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BABA. Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, May 16th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Arete Research raised Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Sanford C. Bernstein raised Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Buy” and a consensus price target of $154.21.

Alibaba Group Trading Down 3.1%

BABA stock opened at $116.59 on Friday. The company has a market cap of $278.18 billion, a P/E ratio of 16.85, a PEG ratio of 0.61 and a beta of 0.22. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. 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 business has a fifty day moving average of $118.08 and a 200-day moving average of $110.74.

Alibaba Group Cuts Dividend

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

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.