HB Wealth Management LLC Trims Holdings in Alibaba Group Holding Limited (NYSE:BABA)

HB Wealth Management LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 9.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,727 shares of the specialty retailer’s stock after selling 466 shares during the period. HB Wealth Management LLC’s holdings in Alibaba Group were worth $342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised 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 valued at $2,085,000 after purchasing an additional 446 shares during the period. Bank of Nova Scotia boosted its position in shares of Alibaba Group by 64.3% during the 3rd quarter. Bank of Nova Scotia now owns 4,230 shares of the specialty retailer’s stock worth $367,000 after purchasing an additional 1,655 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Alibaba Group in the 3rd quarter valued at approximately $2,022,000. Alps Advisors Inc. increased its holdings in Alibaba Group by 31.2% in the 3rd quarter. Alps Advisors Inc. now owns 18,771 shares of the specialty retailer’s stock valued at $1,628,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in Alibaba Group by 3.6% in the third quarter. Evergreen Capital Management LLC now owns 5,943 shares of the specialty retailer’s stock valued at $515,000 after purchasing an additional 205 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 1.7 %

Alibaba Group stock traded down $1.25 during mid-day trading on Friday, hitting $74.32. The company had a trading volume of 10,492,125 shares, compared to its average volume of 17,597,826. The stock has a market cap of $188.59 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.47 and a beta of 0.33. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50. The business has a fifty day moving average of $78.32 and a 200 day moving average of $75.03.

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

Alibaba Group Dividend Announcement

The company also recently declared a None dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 13th will be paid a dividend of $1.66 per share. The ex-dividend date is Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio is presently 22.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BABA shares. Mizuho dropped their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Bank of America lifted their target price on Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Barclays dropped their price objective on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Finally, Citigroup reduced their target price on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group 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.