Procyon Advisors LLC Purchases 4,153 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Procyon Advisors LLC lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,666 shares of the specialty retailer’s stock after acquiring an additional 4,153 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BABA. Norges Bank bought a new stake in Alibaba Group during the fourth quarter valued at approximately $329,367,000. Blue Pool Management Ltd. bought a new position in shares of Alibaba Group in the fourth quarter worth approximately $151,726,000. H&H International Investment LLC boosted its position in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after purchasing an additional 1,918,730 shares during the period. Ruffer LLP boosted its position in shares of Alibaba Group by 139.2% in the fourth quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after purchasing an additional 1,828,019 shares during the period. Finally, Morgan Stanley boosted its position in shares of Alibaba Group by 13.8% in the third 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 during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Wednesday, May 15th. Truist Financial decreased their price target on shares of Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. JPMorgan Chase & Co. decreased their price target on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Bank of America upped their price target on shares of Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Barclays decreased their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group Stock Performance

BABA opened at $72.37 on Friday. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $183.64 billion, a PE ratio of 16.87, a P/E/G ratio of 0.46 and a beta of 0.38. The firm has a 50 day moving average of $78.10 and a two-hundred day moving average of $74.99.

Alibaba Group (NYSE:BABA) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.13. The firm had revenue of $30.73 billion during the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. On average, analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Alibaba Group Dividend Announcement

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

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.