Legacy Advisors LLC Has $1.48 Million Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Legacy Advisors LLC increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,185 shares of the specialty retailer’s stock after purchasing an additional 202 shares during the period. Legacy Advisors LLC’s holdings in Alibaba Group were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AssuredPartners Investment Advisors LLC acquired a new position in Alibaba Group in the 1st quarter worth $272,000. Oppenheimer Asset Management Inc. lifted its position in Alibaba Group by 15.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 55,014 shares of the specialty retailer’s stock worth $7,275,000 after buying an additional 7,314 shares in the last quarter. Pursue Wealth Partners LLC bought a new stake in Alibaba Group during the 1st quarter worth about $388,000. TrueMark Investments LLC bought a new stake in Alibaba Group during the 1st quarter worth about $2,234,000. Finally, Verde Servicos Internacionais S.A. bought a new stake in Alibaba Group during the 1st quarter worth about $8,383,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Wall Street Zen raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Mizuho cut their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Finally, Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Fifteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group has an average rating of “Buy” and an average target price of $154.21.

Alibaba Group Stock Up 0.0%

Alibaba Group stock opened at $113.04 on Tuesday. The stock has a market cap of $269.58 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.46 and a beta of 0.22. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. The company’s 50-day moving average price is $119.32 and its two-hundred day moving average price is $112.46.

Alibaba Group Cuts Dividend

The business also recently declared a — dividend, which will be paid on Thursday, July 10th. Shareholders 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 is currently 13.83%.

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.