Cullinan Associates Inc. Sells 200 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Cullinan Associates Inc. cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,900 shares of the specialty retailer’s stock after selling 200 shares during the period. Cullinan Associates Inc.’s holdings in Alibaba Group were worth $355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley increased 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 last quarter. Russell Investments Group Ltd. increased its position in shares of Alibaba Group by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer’s stock worth $76,951,000 after purchasing an additional 21,228 shares during the last quarter. Fiduciary Alliance LLC increased its position in shares of Alibaba Group by 154.1% in the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after purchasing an additional 33,490 shares during the last quarter. Cerity Partners LLC increased its position in shares of Alibaba Group by 299.9% in the fourth quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock worth $6,428,000 after purchasing an additional 62,163 shares during the last quarter. Finally, Ramirez Asset Management Inc. bought a new position in shares of Alibaba Group in the third quarter worth approximately $7,836,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BABA has been the topic of several research analyst reports. Benchmark restated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 15th. JPMorgan Chase & Co. cut their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Mizuho cut their target price on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Bank of America upped their target price on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Citigroup cut their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $108.79.

Alibaba Group Stock Performance

Shares of BABA stock opened at $73.66 on Wednesday. The stock has a fifty day moving average of $78.26 and a 200 day moving average of $75.03. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $102.50. The firm has a market capitalization of $186.91 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 0.44 and a beta of 0.33. 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 announced its quarterly earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The company had revenue of $30.73 billion during the quarter, compared to analyst estimates of $30.59 billion. As a group, research analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Dividend Announcement

The firm 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. This represents a yield of 3%. The ex-dividend date is Thursday, June 13th. Alibaba Group’s payout ratio is 22.84%.

Alibaba Group Company 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.