Balboa Wealth Partners Acquires 2,675 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Balboa Wealth Partners lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 36.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,094 shares of the specialty retailer’s stock after purchasing an additional 2,675 shares during the period. Balboa Wealth Partners’ holdings in Alibaba Group were worth $782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Alibaba Group by 13.8% during the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after purchasing an additional 1,406,491 shares in the last quarter. Sanders Capital LLC raised its stake in Alibaba Group by 322.7% during the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock worth $1,303,636,000 after buying an additional 11,473,618 shares during the period. Russell Investments Group Ltd. raised its stake in Alibaba Group by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer’s stock worth $76,951,000 after buying an additional 21,228 shares during the period. Cerity Partners LLC raised its stake in Alibaba Group by 299.9% during the 4th quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock worth $6,428,000 after buying an additional 62,163 shares during the period. Finally, Taikang Asset Management Hong Kong Co Ltd raised its stake in Alibaba Group by 19.7% during the 3rd quarter. Taikang Asset Management Hong Kong Co Ltd now owns 730,000 shares of the specialty retailer’s stock worth $63,320,000 after buying an additional 120,000 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BABA. Truist Financial dropped their price target on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Bank of America increased their price objective on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Citigroup decreased their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.96.

Alibaba Group Stock Performance

Shares of NYSE:BABA traded down $3.44 during midday trading on Wednesday, hitting $82.69. The stock had a trading volume of 19,665,690 shares, compared to its average volume of 18,556,820. The company has a market capitalization of $209.83 billion, a PE ratio of 19.28, a P/E/G ratio of 0.54 and a beta of 0.44. The stock has a 50 day moving average price of $75.50 and a two-hundred day moving average price of $75.15. The company has a current ratio of 1.79, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50.

Alibaba Group Announces Dividend

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