Platinum Investment Management Ltd. trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 778,466 shares of the specialty retailer's stock after selling 13,154 shares during the quarter. Alibaba Group makes up 2.5% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 13th largest position. Platinum Investment Management Ltd.'s holdings in Alibaba Group were worth $60,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of BABA. Baystate Wealth Management LLC raised its stake in shares of Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 216 shares during the last quarter. EdgeRock Capital LLC bought a new position in Alibaba Group during the 4th quarter valued at approximately $26,000. Anchor Investment Management LLC purchased a new stake in Alibaba Group in the 4th quarter worth approximately $31,000. Headinvest LLC bought a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $35,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $32,000. 13.47% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on BABA. Barclays reduced their price objective on shares of Alibaba Group from $109.00 to $107.00 and set an "overweight" rating on the stock in a research report on Thursday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of Alibaba Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 9th. Loop Capital raised their price objective on shares of Alibaba Group from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho reduced their target price on Alibaba Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Wednesday, May 15th. Finally, Citigroup lowered their target price on Alibaba Group from $124.00 to $122.00 and set a "buy" rating for the company in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.79.
Get Our Latest Research Report on BABA
Alibaba Group Stock Performance
Shares of NYSE:BABA traded down $1.60 during midday trading on Friday, reaching $78.41. 12,190,292 shares of the company's stock traded hands, compared to its average volume of 21,180,894. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The stock has a 50 day moving average of $77.27 and a 200 day moving average of $74.94. The company has a market cap of $198.97 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 0.48 and a beta of 0.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79.
Alibaba Group (NYSE:BABA - Get Free Report) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.13. The business had revenue of $30.73 billion for the quarter, compared to analysts' expectations of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. As a group, equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.
Alibaba Group Dividend Announcement
The company also recently declared a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be paid a $1.66 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group's dividend payout ratio (DPR) is currently 22.84%.
Alibaba Group Profile
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Free Report)
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.
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