Allspring Global Investments Holdings LLC Purchases 7,737 Shares of Alibaba Group Holding Limited $BABA

Allspring Global Investments Holdings LLC increased its position in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 50.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,023 shares of the specialty retailer’s stock after buying an additional 7,737 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alibaba Group were worth $2,849,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of Alibaba Group by 7.7% during the 4th quarter. Capital World Investors now owns 6,505,165 shares of the specialty retailer’s stock worth $953,527,000 after acquiring an additional 466,847 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alibaba Group by 7,680.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,014,147 shares of the specialty retailer’s stock worth $881,554,000 after buying an additional 5,936,847 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Alibaba Group by 0.8% during the 4th quarter. Fisher Asset Management LLC now owns 5,335,894 shares of the specialty retailer’s stock valued at $782,135,000 after buying an additional 42,297 shares in the last quarter. Norges Bank purchased a new stake in shares of Alibaba Group during the 4th quarter valued at about $594,477,000. Finally, AMF Tjanstepension AB grew its position in Alibaba Group by 4.1% in the first quarter. AMF Tjanstepension AB now owns 2,206,634 shares of the specialty retailer’s stock worth $276,844,000 after acquiring an additional 86,613 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

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Insider Activity at Alibaba Group

In related news, CEO Fan (Fj) Jiang sold 13,579 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $12.10, for a total value of $164,305.90. Following the completion of the sale, the chief executive officer directly owned 556,617 shares of the company’s stock, valued at $6,735,065.70. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Siying Yu sold 6,772 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $12.10, for a total transaction of $81,941.20. Following the transaction, the general counsel owned 607,234 shares in the company, valued at approximately $7,347,531.40. The trade was a 1.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 920,303 shares of company stock worth $70,796,370 over the last three months. Corporate insiders own 12.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BABA shares. Barclays upped their price objective on Alibaba Group from $186.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Morgan Stanley increased their price target on Alibaba Group from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Susquehanna lifted their price objective on shares of Alibaba Group from $170.00 to $185.00 and gave the stock a “positive” rating in a research note on Friday, May 15th. BNP Paribas Exane assumed coverage on shares of Alibaba Group in a research note on Wednesday, April 29th. They issued an “outperform” rating and a $209.00 target price on the stock. Finally, HSBC set a $170.00 target price on shares of Alibaba Group in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

View Our Latest Report on Alibaba Group

Alibaba Group Trading Down 1.6%

Shares of BABA opened at $112.26 on Friday. The firm has a market capitalization of $269.09 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.07 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28. Alibaba Group Holding Limited has a 1-year low of $91.99 and a 1-year high of $192.67. The company has a 50-day moving average of $114.46 and a 200 day moving average of $134.07.

Alibaba Group (NYSE:BABAGet Free Report) last issued its earnings results on Tuesday, March 31st. The specialty retailer reported $0.01 EPS for the quarter. Alibaba Group had a net margin of 10.31% and a return on equity of 4.76%. The business had revenue of $35.30 billion for the quarter. On average, research analysts expect that Alibaba Group Holding Limited will post 6.28 EPS for the current year.

Alibaba Group Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 11th were paid a $1.05 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a yield of 93.0%. Alibaba Group’s dividend payout ratio is 16.91%.

Alibaba Group Company Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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

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