Tabor Asset Management LP Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Tabor Asset Management LP bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,975 shares of the specialty retailer’s stock, valued at approximately $393,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Alibaba Group during the fourth quarter worth about $585,479,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $578,992,000 after purchasing an additional 4,246,564 shares during the period. Renaissance Technologies LLC raised its stake 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 buying an additional 2,024,640 shares during the period. Janus Henderson Group PLC raised its stake in Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock worth $179,087,000 after buying an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd increased its holdings in Alibaba Group by 218.1% during the 1st 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 in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating on shares of Alibaba Group in a report on Monday. Mizuho decreased their target price 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. Bank of America decreased their target price on shares of Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. 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 research report on Tuesday, June 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $150.80.

Alibaba Group Stock Down 0.1%

Shares of NYSE BABA opened at $120.11 on Tuesday. 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 business’s 50 day moving average is $116.76 and its two-hundred day moving average is $115.86. The firm has a market cap of $286.58 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.77 and a beta of 0.21. 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 business also recently declared a — dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date was Thursday, June 12th. Alibaba Group’s dividend payout ratio is currently 12.75%.

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.