Naples Global Advisors LLC Purchases 560 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Naples Global Advisors LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,436 shares of the specialty retailer’s stock after buying an additional 560 shares during the quarter. Naples Global Advisors LLC’s holdings in Alibaba Group were worth $2,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sierra Ocean LLC purchased a new stake in Alibaba Group in the fourth quarter worth about $32,000. Financial Management Professionals Inc. grew its stake in shares of Alibaba Group by 217.6% in the 1st quarter. Financial Management Professionals Inc. now owns 524 shares of the specialty retailer’s stock worth $69,000 after buying an additional 359 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its position in Alibaba Group by 59.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 200 shares in the last quarter. Redwood Park Advisors LLC purchased a new position in Alibaba Group during the fourth quarter valued at $52,000. Finally, Vision Financial Markets LLC purchased a new position in Alibaba Group during the fourth quarter valued at $55,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Robert W. Baird cut their target price on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Bank of America raised their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Citigroup cut their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Barclays boosted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $154.21.

Alibaba Group Price Performance

NYSE BABA opened at $119.53 on Thursday. The company has a 50-day moving average price of $118.62 and a 200-day moving average price of $109.35. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $285.17 billion, a P/E ratio of 17.27, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s dividend payout ratio (DPR) is 13.83%.

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.