Bessemer Group Inc. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 37.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,856 shares of the specialty retailer’s stock after selling 10,138 shares during the period. Bessemer Group Inc.’s holdings in Alibaba Group were worth $2,115,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BABA. Hoey Investments Inc. grew its holdings in shares of Alibaba Group by 95.2% during the 1st quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Alibaba Group in the third quarter worth about $37,000. Costello Asset Management INC purchased a new position in Alibaba Group during the 4th quarter valued at about $34,000. Palladiem LLC bought a new position in Alibaba Group during the 4th quarter valued at approximately $38,000. Finally, Key Financial Inc raised its position in Alibaba Group by 316.9% during the 4th quarter. Key Financial Inc now owns 271 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.
Alibaba Group Stock Down 1.3%
Alibaba Group stock opened at $116.44 on Thursday. The firm has a market cap of $279.12 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.17 and a beta of 0.51. Alibaba Group Holding Limited has a twelve month low of $91.99 and a twelve month high of $192.67. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $115.40 and a two-hundred day moving average of $134.52.
Alibaba Group Announces Dividend
The business also recently disclosed an annual dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 11th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a dividend yield of 93.0%. Alibaba Group’s payout ratio is 16.91%.
Insiders Place Their Bets
In other Alibaba Group news, insider Fang Jiang sold 4,898 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $12.09, for a total value of $59,216.82. Following the sale, the insider directly owned 5,559,511 shares of the company’s stock, valued at approximately $67,214,487.99. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Siying Yu sold 6,772 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $12.10, for a total value of $81,941.20. Following the completion of the sale, the general counsel owned 607,234 shares in the company, valued at approximately $7,347,531.40. This represents a 1.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 920,303 shares of company stock valued at $70,796,370. Insiders own 12.50% of the company’s stock.
Key Stories Impacting Alibaba Group
Here are the key news stories impacting Alibaba Group this week:
- Positive Sentiment: Alibaba is being credited for steady progress in AI, with commentary pointing to continued investment in cloud and AI infrastructure as a key long-term growth driver. Alibaba’s (BABA) AI Progress Deserves Credit
- Positive Sentiment: Ant International, in which Alibaba holds an economic interest, raised about $1.2 billion to expand cross-border payments and AI-enabled commerce solutions, underscoring momentum in Alibaba-linked fintech and digital payments. Ant International Raises approx. US$1.2 billion…
- Positive Sentiment: Coverage suggesting Alibaba may benefit from broader enthusiasm around Chinese AI leaders could improve investor sentiment toward the stock, especially as the company scales its AI efforts. AI startup Moonshot just launched…
- Neutral Sentiment: Alibaba set August 5 as the record date for its virtual AGM and ADS voting, a routine corporate action with limited immediate operational impact. Alibaba Sets August Record Date…
- Negative Sentiment: Multiple law firms have launched investor investigations into Alibaba, with allegations of potentially misleading disclosures; that kind of headline can weigh on the shares even before any formal action is taken. INVESTOR ALERT: Pomerantz Law Firm Investigates…
- Negative Sentiment: Reports that Fliggy is cutting jobs amid Alibaba restructuring and tougher online travel competition add to concerns about operational pressure in some business lines. Fliggy cuts jobs amid Alibaba restructuring…
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on BABA shares. Freedom Capital upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. HSBC set a $170.00 target price on Alibaba Group in a research report on Thursday, July 9th. Barclays raised their price objective on shares of Alibaba Group from $186.00 to $195.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Nomura cut their price objective on Alibaba Group from $207.00 to $178.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Wall Street Zen raised Alibaba Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.
Read Our Latest Stock Analysis on Alibaba Group
Alibaba Group Company Profile
Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.
The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.
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