Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Norden Group LLC

Norden Group LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,688 shares of the specialty retailer’s stock after selling 1,811 shares during the quarter. Alibaba Group comprises 0.7% of Norden Group LLC’s investment portfolio, making the stock its 21st biggest holding. Norden Group LLC’s holdings in Alibaba Group were worth $6,174,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in Alibaba Group during the first quarter worth $31,000. Bruce G. Allen Investments LLC purchased a new position in Alibaba Group during the first quarter worth $31,000. LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group during the first quarter worth $35,000. Finally, Valley National Advisers Inc. increased its position in Alibaba Group by 151.9% during the first quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer’s stock worth $35,000 after buying an additional 161 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays dropped their price target on Alibaba Group from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, July 15th. Robert W. Baird dropped their price target on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Arete downgraded Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective for the company. in a research report on Tuesday, June 24th. Citigroup lowered their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $153.29.

Alibaba Group Trading Down 0.9%

Shares of BABA opened at $120.05 on Monday. The stock’s 50-day moving average is $115.96 and its two-hundred day moving average is $117.13. The stock has a market cap of $286.35 billion, a PE ratio of 16.11, a P/E/G ratio of 1.77 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a 12 month low of $73.87 and a 12 month high of $148.43.

Alibaba Group Cuts Dividend

The business also recently declared a — dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given 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 (DPR) is presently 12.75%.

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.