Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co boosted its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 462.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 169,220 shares of the specialty retailer's stock after purchasing an additional 139,134 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Alibaba Group were worth $12,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC raised its stake in shares of Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer's stock worth $72,000 after buying an additional 142 shares during the period. Legacy Advisors LLC raised its stake in shares of Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer's stock worth $826,000 after buying an additional 145 shares during the period. North Star Investment Management Corp. raised its stake in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer's stock worth $111,000 after buying an additional 154 shares during the period. Hexagon Capital Partners LLC raised its stake in Alibaba Group by 2.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 6,664 shares of the specialty retailer's stock valued at $517,000 after purchasing an additional 164 shares during the period. Finally, WNY Asset Management LLC raised its stake in Alibaba Group by 2.8% during the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer's stock valued at $436,000 after purchasing an additional 164 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BABA shares. Bank of America lifted their target price on Alibaba Group from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, May 16th. Morgan Stanley reissued an "equal weight" rating and set a $85.00 target price on shares of Alibaba Group in a research note on Tuesday, April 9th. Loop Capital lifted their target price on Alibaba Group from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, June 6th. Benchmark reissued a "buy" rating and set a $118.00 target price on shares of Alibaba Group in a research note on Wednesday, May 15th. Finally, Mizuho reduced their price objective on Alibaba Group from $95.00 to $92.00 and set a "buy" rating on the stock 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 company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $108.79.

Alibaba Group Trading Down 0.5 %

Shares of Alibaba Group stock traded down $0.39 on Thursday, reaching $75.41. The company had a trading volume of 8,161,752 shares, compared to its average volume of 17,014,314. The firm's 50-day moving average price is $77.36 and its two-hundred day moving average price is $75.13. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $191.35 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 0.47 and a beta of 0.33.

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

Alibaba Group Announces Dividend

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

Alibaba Group Company Profile

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.