1832 Asset Management L.P. Buys 59,167 Shares of Alibaba Group Holding Limited (NYSE:BABA)

1832 Asset Management L.P. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 277.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,488 shares of the specialty retailer’s stock after acquiring an additional 59,167 shares during the quarter. 1832 Asset Management L.P.’s holdings in Alibaba Group were worth $5,824,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fiduciary Alliance LLC lifted its position in Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock valued at $4,052,000 after purchasing an additional 33,490 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Alibaba Group by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer’s stock valued at $76,951,000 after purchasing an additional 21,228 shares during the last quarter. Cerity Partners LLC lifted its position in Alibaba Group by 299.9% during the fourth quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock valued at $6,428,000 after purchasing an additional 62,163 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after acquiring an additional 139,134 shares during the period. Finally, ORG Partners LLC raised its stake in shares of Alibaba Group by 52,685.7% in the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock valued at $813,000 after acquiring an additional 11,064 shares during the period. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 1.5 %

Shares of NYSE:BABA traded up $1.13 during trading on Friday, reaching $76.53. The stock had a trading volume of 10,884,540 shares, compared to its average volume of 10,928,651. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The company has a market capitalization of $194.19 billion, a P/E ratio of 17.84, a PEG ratio of 0.47 and a beta of 0.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $77.12 and its 200 day simple moving average is $75.18.

Alibaba Group (NYSE:BABA) last released its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The company had revenue of $30.73 billion during 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, research analysts expect that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 13th were paid 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 22.84%.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Benchmark reissued a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Wednesday, May 15th. Morgan Stanley reissued an “equal weight” rating and issued a $85.00 target price on shares of Alibaba Group in a research note on Tuesday, April 9th. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 target price on shares of Alibaba Group in a research note on Friday. Finally, Bank of America raised their price target on shares of Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.19.

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.