Koshinski Asset Management Inc. Invests $264,000 in Alibaba Group Holding Limited (NYSE:BABA)

Koshinski Asset Management Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,000 shares of the specialty retailer’s stock, valued at approximately $264,000.

A number of other large investors have also recently added to or reduced their stakes in BABA. Norges Bank purchased a new position in Alibaba Group during the fourth quarter worth about $585,479,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 2,024,640 shares during the period. Appaloosa LP increased its holdings in 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. Finally, Janus Henderson Group PLC raised its position in 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. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.8%

NYSE BABA opened at $108.67 on Friday. Alibaba Group Holding Limited has a 52 week low of $72.95 and a 52 week high of $148.43. The firm has a 50 day moving average of $119.42 and a two-hundred day moving average of $113.48. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $259.31 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.48 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 dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s payout ratio is currently 13.83%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BABA. Arete lowered Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price target for the company. in a research report on Tuesday, June 24th. Benchmark lowered their target price on Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a report on Friday, May 16th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Robert W. Baird reduced their price target on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $154.13.

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.