Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Cohen Capital Management Inc.

Cohen Capital Management Inc. decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 18.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,893 shares of the specialty retailer’s stock after selling 3,065 shares during the quarter. Cohen Capital Management Inc.’s holdings in Alibaba Group were worth $1,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Baystate Wealth Management LLC lifted its stake in shares of Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $26,000. Anchor Investment Management LLC purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $31,000. Headinvest LLC purchased a new position in shares of Alibaba Group during the third quarter valued at approximately $35,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BABA shares. Mizuho reduced their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Citigroup decreased their price target on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a 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 report on Wednesday, May 15th. Loop Capital lifted their price target on shares of Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Morgan Stanley restated an “equal weight” rating and set a $85.00 target price on shares of Alibaba Group in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $108.79.

Alibaba Group Stock Up 3.3 %

Shares of BABA traded up $2.51 during midday trading on Thursday, hitting $78.52. The company had a trading volume of 18,865,793 shares, compared to its average volume of 17,526,309. The company’s 50 day moving average price is $78.23 and its 200 day moving average price is $75.06. The stock has a market cap of $199.24 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 0.45 and a beta of 0.33. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $102.50. 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 (NYSE:BABA) last released its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.13. The company had revenue of $30.73 billion during the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. On average, equities research analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current year.

Alibaba Group Announces Dividend

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