TD Asset Management Inc Has $11.46 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

TD Asset Management Inc raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3,357.2% in the first quarter, Holdings Channel.com reports. The firm owned 86,671 shares of the specialty retailer’s stock after buying an additional 84,164 shares during the period. TD Asset Management Inc’s holdings in Alibaba Group were worth $11,461,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BABA. Hazlett Burt & Watson Inc. boosted its stake in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $31,000. Valley National Advisers Inc. raised its holdings in shares of Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 161 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

NYSE BABA opened at $117.26 on Thursday. The company has a 50-day simple moving average of $115.70 and a two-hundred day simple moving average of $117.44. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $73.87 and a 12-month high of $148.43. The firm has a market cap of $279.71 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.76 and a beta of 0.21.

Alibaba Group Cuts Dividend

The firm also recently declared a — dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s payout ratio is 12.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BABA shares. Arete Research cut shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 24th. Mizuho lowered their target price on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Citigroup lowered their target price 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. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. Finally, Bank of America decreased their price target on shares of Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $153.29.

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.