Noble Wealth Management PBC Invests $236,000 in Alibaba Group Holding Limited (NYSE:BABA)

Noble Wealth Management PBC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,785 shares of the specialty retailer’s stock, valued at approximately $236,000.

A number of other large investors have also modified their holdings of BABA. Brighton Jones LLC grew its holdings in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after buying an additional 981 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Alibaba Group during the fourth quarter worth $6,478,000. Moloney Securities Asset Management LLC purchased a new stake in shares of Alibaba Group during the fourth quarter worth $208,000. Empowered Funds LLC purchased a new stake in shares of Alibaba Group during the fourth quarter worth $215,000. Finally, Stephens Inc. AR boosted its position in shares of Alibaba Group by 12.5% during the 4th quarter. Stephens Inc. AR now owns 7,248 shares of the specialty retailer’s stock valued at $615,000 after acquiring an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BABA shares. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Barclays upped their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Citigroup dropped their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Benchmark dropped their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $154.21.

Alibaba Group Stock Down 1.3%

Shares of BABA opened at $120.30 on Thursday. The stock has a market capitalization of $287.04 billion, a PE ratio of 17.38, a P/E/G ratio of 0.61 and a beta of 0.22. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company’s 50-day simple moving average is $117.87 and its 200-day simple moving average is $110.53.

Alibaba Group Cuts Dividend

The company also recently announced 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 of this dividend is Thursday, June 12th. This represents a 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.