Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 37.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,420 shares of the specialty retailer’s stock after selling 2,075 shares during the period. Meyer Handelman Co.’s holdings in Alibaba Group were worth $247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baystate Wealth Management LLC increased its position in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 216 shares during the period. EdgeRock Capital LLC acquired a new position in Alibaba Group during the 4th quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new position in Alibaba Group during the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA acquired a new position in Alibaba Group during the 4th quarter worth approximately $32,000. Finally, Headinvest LLC acquired a new position in Alibaba Group during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BABA shares. Morgan Stanley reiterated an “equal weight” rating and set a $85.00 target price on shares of Alibaba Group in a research report on Tuesday, April 9th. Bank of America boosted their price target on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Truist Financial decreased their price target on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, May 15th. Finally, StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group Trading Down 0.9 %

BABA stock opened at $73.67 on Friday. The company has a market cap of $186.94 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.46 and a beta of 0.38. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $77.83 and a 200-day simple moving average of $74.94. 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 released its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The business had revenue of $30.73 billion during the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. On average, equities research analysts expect 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 issued 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%.

Alibaba Group 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.