Modera Wealth Management LLC Invests $347,000 in Alibaba Group Holding Limited (NYSE:BABA)

Modera Wealth Management LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,627 shares of the specialty retailer’s stock, valued at approximately $347,000.

Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Alibaba Group by 34.9% during the fourth quarter. Schroder Investment Management Group now owns 202,309 shares of the specialty retailer’s stock worth $17,020,000 after buying an additional 52,302 shares during the last quarter. Summit Financial LLC boosted its position in shares of Alibaba Group by 7.0% in the fourth quarter. Summit Financial LLC now owns 6,275 shares of the specialty retailer’s stock valued at $532,000 after acquiring an additional 413 shares during the period. Franklin Resources Inc. increased its position in Alibaba Group by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 488,356 shares of the specialty retailer’s stock worth $41,408,000 after acquiring an additional 10,057 shares during the period. Finally, Huntington National Bank raised its stake in Alibaba Group by 24.0% during the 4th quarter. Huntington National Bank now owns 2,602 shares of the specialty retailer’s stock valued at $221,000 after purchasing an additional 504 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BABA shares. Benchmark reissued a “buy” rating on shares of Alibaba Group in a research report on Monday, July 21st. Bank of America dropped their target price on shares of Alibaba Group from $145.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, July 11th. Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Finally, Arete Research cut shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $153.29.

Alibaba Group Trading Down 3.0%

Alibaba Group stock opened at $117.06 on Friday. The company has a market cap of $279.23 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.77 and a beta of 0.17. The firm has a 50-day moving average of $115.61 and a 200-day moving average of $117.96. 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 one year low of $73.87 and a one year high of $148.43.

Alibaba Group Cuts Dividend

The company also recently declared a — dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group’s dividend payout ratio (DPR) 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.