Foster Group Inc. Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Foster Group Inc. purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,769 shares of the specialty retailer’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BABA. Norges Bank bought a new position in shares of Alibaba Group in the fourth quarter valued at $585,479,000. Renaissance Technologies LLC lifted its position in Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock valued at $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. Appaloosa LP lifted its position in Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after acquiring an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC lifted its position in Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock valued at $179,087,000 after acquiring an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd lifted its holdings in shares of Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer’s stock valued at $175,221,000 after purchasing an additional 908,544 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of a number of recent research reports. Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, May 16th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Citigroup dropped their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America raised their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Buy” and an average price target of $154.21.

Alibaba Group Stock Performance

Shares of BABA stock opened at $119.48 on Friday. The firm has a market cap of $285.05 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The firm’s 50-day simple moving average is $118.11 and its two-hundred day simple moving average is $109.78.

Alibaba Group Cuts Dividend

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