Douglas Lane & Associates LLC Sells 17,231 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Douglas Lane & Associates LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 119,023 shares of the specialty retailer’s stock after selling 17,231 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Alibaba Group were worth $8,570,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BABA. Primecap Management Co. CA increased its stake in Alibaba Group by 5.1% in the fourth quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer’s stock valued at $1,412,618,000 after acquiring an additional 881,710 shares during the period. Sanders Capital LLC boosted its position in Alibaba Group by 5.4% in the fourth quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock valued at $1,228,398,000 after buying an additional 819,019 shares in the last quarter. FIL Ltd boosted its position in Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock valued at $823,986,000 after buying an additional 983,842 shares in the last quarter. H&H International Investment LLC lifted its position in shares of Alibaba Group by 63.1% during 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of Alibaba Group during the fourth quarter worth approximately $329,367,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 1.2 %

BABA traded up $0.94 during trading hours on Tuesday, hitting $77.92. 12,103,451 shares of the company’s stock were exchanged, compared to its average volume of 16,749,516. The stock has a market cap of $197.72 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.48 and a beta of 0.32. 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 stock’s 50-day moving average is $76.47 and its two-hundred day moving average is $75.52. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $101.84.

Alibaba Group (NYSE:BABA) last announced 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. The firm had revenue of $30.73 billion during the quarter, compared to analysts’ expectations of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. Sell-side analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on BABA. Loop Capital upped their target price on shares of Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. 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. 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. Jefferies Financial Group reissued a “buy” rating and set a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Finally, Citigroup lowered their target price on shares of 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 investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.19.

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.