Quintet Private Bank Europe S.A. Cuts Stake in Alibaba Group Holding Limited (NYSE:BABA)

Quintet Private Bank Europe S.A. cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,757 shares of the specialty retailer’s stock after selling 1,338 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Alibaba Group were worth $8,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Appaloosa LP lifted its holdings in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Norges Bank purchased a new stake in Alibaba Group during the fourth quarter valued at about $585,479,000. Bank of America Corp DE lifted its holdings in Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock valued at $566,124,000 after purchasing an additional 438,537 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Alibaba Group by 1.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer’s stock worth $431,906,000 after buying an additional 78,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer’s stock worth $390,885,000 after buying an additional 752,275 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

NYSE:BABA opened at $116.59 on Friday. The firm has a market cap of $278.18 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The business has a 50 day moving average price of $118.08 and a 200-day moving average price of $110.74.

Alibaba Group Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s payout ratio is currently 13.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BABA shares. Benchmark lowered their price target on shares of Alibaba Group from $190.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. Wall Street Zen downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Citigroup lowered their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $154.21.

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.