HighPoint Advisor Group LLC Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

HighPoint Advisor Group LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 28.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,556 shares of the specialty retailer’s stock after selling 11,027 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Alibaba Group were worth $3,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alibaba Group during the fourth quarter valued at approximately $585,479,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock valued at $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. Janus Henderson Group PLC boosted its stake 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 acquiring an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd boosted its stake in Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer’s stock valued at $175,221,000 after acquiring an additional 908,544 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

BABA opened at $120.04 on Monday. The company has a market cap of $286.41 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.77 and a beta of 0.22. The company has a 50 day moving average of $116.76 and a two-hundred day moving average of $115.86. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52-week low of $73.87 and a 52-week high of $148.43.

Alibaba Group Cuts Dividend

The company also recently disclosed a — dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were issued a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

BABA has been the subject of a number of research reports. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Arete Research downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Robert W. Baird dropped their price target on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Barclays reduced their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Finally, Arete lowered shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective on the stock. in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $150.80.

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.