Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Lake Hills Wealth Management LLC

Lake Hills Wealth Management LLC boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 86.8% in the 1st quarter, HoldingsChannel reports. The fund owned 5,850 shares of the specialty retailer’s stock after acquiring an additional 2,719 shares during the period. Lake Hills Wealth Management LLC’s holdings in Alibaba Group were worth $423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC lifted its position in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Alibaba Group during the 4th quarter worth approximately $26,000. Anchor Investment Management LLC purchased a new stake in shares of Alibaba Group during the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Alibaba Group during the 4th quarter worth approximately $32,000. Finally, Headinvest LLC purchased a new stake in shares of Alibaba Group during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BABA shares. Loop Capital upped their price target on shares of Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Bank of America upped their price target on shares of Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, May 15th. Morgan Stanley restated an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.79.

Alibaba Group Price Performance

Shares of BABA traded down $0.09 during trading hours on Wednesday, reaching $74.46. 10,305,285 shares of the company traded hands, compared to its average volume of 15,489,059. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $188.94 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.46 and a beta of 0.38. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The stock has a fifty day simple moving average of $77.80 and a 200 day simple moving average of $74.93.

Alibaba Group (NYSE:BABA) last released its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The firm had revenue of $30.73 billion for the quarter, compared to the consensus estimate of $30.59 billion. As a group, research analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

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