PNC Financial Services Group Inc. Sells 48,404 Shares of Alibaba Group Holding Limited (NYSE:BABA)

PNC Financial Services Group Inc. decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 53.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,746 shares of the specialty retailer's stock after selling 48,404 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Alibaba Group were worth $3,236,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Alibaba Group during the fourth quarter valued at approximately $329,367,000. Blue Pool Management Ltd. acquired a new stake in Alibaba Group during the fourth quarter valued at approximately $151,726,000. H&H International Investment LLC raised its stake in Alibaba Group by 63.1% during the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer's stock valued at $384,390,000 after buying an additional 1,918,730 shares in the last quarter. Ruffer LLP raised its stake in Alibaba Group by 139.2% during the fourth quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer's stock valued at $243,430,000 after buying an additional 1,828,019 shares in the last quarter. Finally, Morgan Stanley raised its stake in Alibaba Group by 13.8% during the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock valued at $1,007,058,000 after buying an additional 1,406,491 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Loop Capital upped their price objective on Alibaba Group from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 6th. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Tuesday, February 27th. Morgan Stanley restated an "equal weight" rating and set a $85.00 price objective on shares of Alibaba Group in a research note on Tuesday, April 9th. Citigroup dropped their target price on Alibaba Group from $124.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, May 15th. Finally, Benchmark reaffirmed a "buy" rating and issued a $118.00 target price on shares of Alibaba Group in a research report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus price target of $108.79.

Alibaba Group Stock Performance

Shares of BABA traded down $0.06 during trading hours on Thursday, reaching $74.40. 9,666,702 shares of the company's stock traded hands, compared to its average volume of 18,059,457. The firm has a market capitalization of $188.79 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.46 and a beta of 0.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $102.50. The business's fifty day simple moving average is $77.78 and its two-hundred day simple moving average is $74.92.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.13. The company had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. Analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Announces Dividend

The company also recently announced a None dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 13th will be issued a dividend of $1.66 per share. This represents a yield of 3%. The ex-dividend date of this dividend is Thursday, June 13th. Alibaba Group's payout ratio is currently 22.84%.

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.