HighPoint Advisor Group LLC Takes $2.74 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

HighPoint Advisor Group LLC acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 38,286 shares of the specialty retailer’s stock, valued at approximately $2,736,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BABA. Van ECK Associates Corp purchased a new position in shares of Alibaba Group during the third quarter valued at approximately $58,000. Rhumbline Advisers boosted its position in Alibaba Group by 1.9% in the third quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock worth $2,085,000 after purchasing an additional 446 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Alibaba Group by 8.6% in the third quarter. PNC Financial Services Group Inc. now owns 90,150 shares of the specialty retailer’s stock worth $7,820,000 after purchasing an additional 7,128 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in Alibaba Group by 2.1% in the third quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer’s stock worth $584,000 after purchasing an additional 136 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Alibaba Group in the third quarter worth $2,785,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA traded down $0.02 during trading on Tuesday, reaching $74.53. The company’s stock had a trading volume of 1,173,700 shares, compared to its average volume of 18,053,209. The stock has a market capitalization of $189.12 billion, a PE ratio of 17.38, a P/E/G ratio of 0.45 and a beta of 0.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a fifty day moving average of $77.77 and a 200 day moving average of $74.93. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The business had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Analysts expect that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 13th will be paid a $1.66 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio is currently 22.84%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial cut their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Loop Capital boosted their price objective on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Mizuho cut their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Morgan Stanley reissued an “equal weight” rating and issued a $85.00 price objective on shares of Alibaba Group in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price target on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

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.