Alibaba Group Holding Limited (NYSE:BABA) Stock Position Reduced by Golden State Wealth Management LLC

Golden State Wealth Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 16.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 597 shares of the specialty retailer’s stock after selling 115 shares during the period. Golden State Wealth Management LLC’s holdings in Alibaba Group were worth $79,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BABA. Norges Bank bought a new position in Alibaba Group during the 4th quarter worth approximately $585,479,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the period. Renaissance Technologies LLC raised its position in shares of Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. Appaloosa LP raised its position in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock worth $179,087,000 after purchasing an additional 1,030,999 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 1.8%

Shares of BABA stock opened at $108.67 on Monday. Alibaba Group Holding Limited has a 1 year low of $72.95 and a 1 year high of $148.43. The stock has a market cap of $259.31 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22. The business’s fifty day moving average is $119.19 and its 200-day moving average is $114.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

The company also recently declared 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. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group’s dividend payout ratio (DPR) is presently 13.83%.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Benchmark dropped their price target on Alibaba Group from $190.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Mizuho dropped their price target on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Finally, Arete Research cut 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 fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.13.

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.