Bank of New York Mellon Corp Raises Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Bank of New York Mellon Corp grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 56.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,984 shares of the specialty retailer’s stock after purchasing an additional 98,236 shares during the period. Bank of New York Mellon Corp’s holdings in Alibaba Group were worth $35,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. World Investment Advisors grew its position in shares of Alibaba Group by 6.7% during the first quarter. World Investment Advisors now owns 11,379 shares of the specialty retailer’s stock valued at $1,505,000 after purchasing an additional 719 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Alibaba Group during the first quarter valued at about $104,000. Olde Wealth Management LLC purchased a new position in shares of Alibaba Group during the first quarter valued at about $59,000. GF Fund Management CO. LTD. grew its position in shares of Alibaba Group by 23.0% during the first quarter. GF Fund Management CO. LTD. now owns 149,502 shares of the specialty retailer’s stock valued at $19,769,000 after purchasing an additional 27,995 shares in the last quarter. Finally, Calamos Wealth Management LLC grew its position in shares of Alibaba Group by 39.6% during the first quarter. Calamos Wealth Management LLC now owns 25,608 shares of the specialty retailer’s stock valued at $3,386,000 after purchasing an additional 7,266 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 1.5%

Shares of NYSE BABA opened at $108.28 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $258.35 billion, a P/E ratio of 14.53, a PEG ratio of 0.49 and a beta of 0.22. Alibaba Group Holding Limited has a 1 year low of $73.87 and a 1 year high of $148.43. The firm has a 50-day simple moving average of $117.39 and a two-hundred day simple moving average of $114.94.

Alibaba Group Cuts Dividend

The business also recently declared a — dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group’s dividend payout ratio is presently 12.75%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BABA shares. Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Benchmark lowered their price target on shares of Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company 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. Arete Research downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Finally, Mizuho lowered their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.13.

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.