Principal Financial Group Inc. Has $2.26 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Principal Financial Group Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 47.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,121 shares of the specialty retailer’s stock after selling 15,488 shares during the period. Principal Financial Group Inc.’s holdings in Alibaba Group were worth $2,264,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BABA. WCM Investment Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth $4,074,000. KMG Fiduciary Partners LLC bought a new position in Alibaba Group in the first quarter valued at about $1,948,000. Avaii Wealth Management LLC acquired a new position in Alibaba Group during the first quarter worth about $563,000. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer’s stock worth $15,596,000 after acquiring an additional 18,230 shares during the last quarter. Finally, Summa Corp. boosted its stake in shares of Alibaba Group by 28.7% in the 1st quarter. Summa Corp. now owns 71,673 shares of the specialty retailer’s stock valued at $9,477,000 after purchasing an additional 16,000 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Arete downgraded shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective for the company. in a research note on Tuesday, June 24th. Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Bank of America lowered their target price on Alibaba Group from $145.00 to $135.00 and set a “buy” rating for the company in a report on Friday, July 11th. Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Finally, Benchmark lowered their price objective on Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Three investment 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, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $150.80.

Alibaba Group Trading Up 2.5%

NYSE:BABA opened at $120.22 on Friday. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s fifty day moving average is $116.76 and its 200-day moving average is $115.44. The firm has a market cap of $286.85 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.73 and a beta of 0.21.

Alibaba Group Cuts Dividend

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

About Alibaba Group

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.