Price T Rowe Associates Inc. MD Has $604.58 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Price T Rowe Associates Inc. MD lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,355,128 shares of the specialty retailer’s stock after selling 1,358,906 shares during the period. Price T Rowe Associates Inc. MD owned about 0.33% of Alibaba Group worth $604,579,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bogart Wealth LLC increased its stake in Alibaba Group by 16.7% in the 1st quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 142 shares during the last quarter. Legacy Advisors LLC boosted its position in Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after purchasing an additional 145 shares during the last quarter. North Star Investment Management Corp. grew its stake in Alibaba Group by 11.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 154 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Alibaba Group by 2.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 6,664 shares of the specialty retailer’s stock worth $517,000 after purchasing an additional 164 shares during the period. Finally, WNY Asset Management LLC boosted its holdings in shares of Alibaba Group by 2.8% in the 1st quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after buying an additional 164 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial cut 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. Jefferies Financial Group reissued a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a report on Friday. Bank of America boosted their price target on shares of Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Morgan Stanley reissued an “equal weight” rating and issued a $85.00 price target 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 on the stock in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fifteen have issued 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 $109.19.

Alibaba Group Price Performance

NYSE:BABA traded up $2.30 during mid-day trading on Monday, hitting $78.83. 7,318,681 shares of the stock traded hands, compared to its average volume of 16,904,502. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month 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. The company has a market cap of $200.03 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 0.47 and a beta of 0.33. The business’s 50-day moving average price is $77.12 and its 200 day moving average price is $75.20.

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

Alibaba Group Announces Dividend

The firm also recently declared a None dividend, which was paid on Friday, July 12th. Shareholders of record on Thursday, June 13th were issued a $1.66 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s payout ratio is currently 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.