Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,770 shares of the specialty retailer’s stock after buying an additional 3,233 shares during the period. Victory Capital Management Inc.’s holdings in Alibaba Group were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Alibaba Group by 7.0% in the 4th 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alibaba Group by 19.5% during the 4th 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 valued at $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after buying an additional 4,246,564 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Alibaba Group by 1.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer’s stock worth $337,377,000 after buying an additional 44,901 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after buying an additional 2,024,640 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Up 1.8%

BABA stock opened at $122.19 on Tuesday. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $115.94 and a 200-day simple moving average of $117.42. The stock has a market capitalization of $291.47 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.77 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Wall Street Analyst Weigh In

BABA has been the topic of several research reports. Robert W. Baird cut their target price on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Bank of America decreased 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. Citigroup dropped their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Mizuho reduced their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.29.

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.