Alibaba Group Holding Limited (NYSE:BABA) Stock Position Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,125 shares of the specialty retailer’s stock after buying an additional 13,394 shares during the quarter. iA Global Asset Management Inc.’s holdings in Alibaba Group were worth $4,495,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC raised its holdings in Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Alibaba Group during the 4th quarter valued at about $26,000. Register Financial Advisors LLC bought a new position in shares of Alibaba Group in the 1st quarter valued at approximately $31,000. Bear Mountain Capital Inc. acquired a new stake in Alibaba Group in the 4th quarter worth approximately $42,000. Finally, ICA Group Wealth Management LLC bought a new stake in Alibaba Group during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Wednesday, May 15th. Truist Financial lowered their price target on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Bank of America raised their target price on Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.19.

Alibaba Group Price Performance

Shares of NYSE:BABA traded down $0.87 during midday trading on Thursday, reaching $77.98. 8,467,582 shares of the company’s stock were exchanged, compared to its average volume of 16,825,943. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79. The company’s 50 day simple moving average is $76.69 and its two-hundred day simple moving average is $75.31. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $101.84. The firm has a market capitalization of $197.87 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.48 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last announced its quarterly 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. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The firm had revenue of $30.73 billion during the quarter, compared to analysts’ expectations of $30.59 billion. Equities research analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Announces Dividend

The business also recently declared a None dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 13th were given a $1.66 dividend. This represents a yield of 3%. The ex-dividend date of this dividend was Thursday, June 13th. Alibaba Group’s dividend payout ratio (DPR) is 22.84%.

Alibaba Group 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.