HB Wealth Management LLC Sells 466 Shares of Alibaba Group Holding Limited (NYSE:BABA)

HB Wealth Management LLC decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,727 shares of the specialty retailer’s stock after selling 466 shares during the quarter. HB Wealth Management LLC’s holdings in Alibaba Group were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BABA. Norges Bank bought a new position in Alibaba Group during the fourth quarter worth $329,367,000. Blue Pool Management Ltd. bought a new position in Alibaba Group during the fourth quarter valued at about $151,726,000. H&H International Investment LLC raised its holdings in Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares in the last quarter. Ruffer LLP lifted its position in shares of Alibaba Group by 139.2% in the 4th quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after acquiring an additional 1,828,019 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Alibaba Group by 13.8% during the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock worth $1,007,058,000 after purchasing an additional 1,406,491 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 1.7 %

Alibaba Group stock traded down $1.25 during midday trading on Friday, hitting $74.32. 10,492,125 shares of the stock were exchanged, compared to its average volume of 17,597,826. The stock has a market capitalization of $188.59 billion, a PE ratio of 17.26, a P/E/G ratio of 0.47 and a beta of 0.33. The company has a fifty day simple moving average of $78.32 and a two-hundred day simple moving average of $75.03. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $102.50.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.13. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The company had revenue of $30.73 billion during the quarter, compared to the consensus estimate of $30.59 billion. Equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be issued a $1.66 dividend. This represents a dividend yield of 3%. The ex-dividend date is Thursday, June 13th. Alibaba Group’s payout ratio is 22.84%.

Wall Street Analyst Weigh In

BABA has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Barclays cut their target price on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Truist Financial dropped their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $85.00 target price on shares of Alibaba Group in a report on Tuesday, April 9th. Finally, Mizuho cut their price target on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.79.

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.