Magnus Financial Group LLC Acquires 371 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Magnus Financial Group LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,177 shares of the specialty retailer’s stock after acquiring an additional 371 shares during the quarter. Magnus Financial Group LLC’s holdings in Alibaba Group were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Alibaba Group in the fourth quarter worth $585,479,000. Renaissance Technologies LLC grew its stake in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. Appaloosa LP grew its stake in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Janus Henderson Group PLC grew its stake in Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock worth $179,087,000 after purchasing an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd grew its stake in 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 worth $175,221,000 after purchasing an additional 908,544 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BABA shares. Bank of America upped their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Sanford C. Bernstein raised Alibaba Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Mizuho cut their target price on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $154.21.

Alibaba Group Trading Down 0.4%

Shares of NYSE:BABA opened at $119.48 on Friday. The company has a market cap of $285.05 billion, a P/E ratio of 17.27, a PEG ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The stock’s fifty day moving average price is $118.11 and its 200-day moving average price is $109.78.

Alibaba Group Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.95 per share. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group’s payout ratio is currently 13.83%.

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.