Wells Fargo & Company MN Lowers Stake in Alibaba Group Holding Limited (NYSE:BABA)

Wells Fargo & Company MN lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 520,067 shares of the specialty retailer’s stock after selling 72,903 shares during the period. Wells Fargo & Company MN’s holdings in Alibaba Group were worth $40,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of BABA. MGO One Seven LLC acquired a new position in shares of Alibaba Group during the third quarter worth $307,000. NBC Securities Inc. acquired a new position in shares of Alibaba Group during the third quarter worth $446,000. Ieq Capital LLC increased its position in shares of Alibaba Group by 85.8% during the third quarter. Ieq Capital LLC now owns 5,831 shares of the specialty retailer’s stock worth $506,000 after purchasing an additional 2,693 shares in the last quarter. Lincoln National Corp increased its position in shares of Alibaba Group by 7.8% during the third quarter. Lincoln National Corp now owns 10,647 shares of the specialty retailer’s stock worth $924,000 after purchasing an additional 771 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Alibaba Group during the third quarter worth $242,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $81.26 on Monday. The business’s 50-day moving average is $75.93 and its two-hundred day moving average is $75.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.79. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The company has a market capitalization of $206.20 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.49 and a beta of 0.44.

Alibaba Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Citigroup cut their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Mizuho cut their target price 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. Finally, Barclays cut their target price on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $109.96.

View Our Latest Research Report on Alibaba Group

Alibaba Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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