M&G Plc Acquires New Position in Alibaba Group Holding Limited (NYSE:BABA)

M&G Plc acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 556,662 shares of the specialty retailer’s stock, valued at approximately $40,080,000.

A number of other large investors have also recently made changes to their positions in the company. Baystate Wealth Management LLC boosted its holdings in shares of Alibaba Group by 184.6% in the fourth 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 in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Alibaba Group during the fourth quarter worth $26,000. Anchor Investment Management LLC purchased a new stake in Alibaba Group in the 4th quarter valued at about $31,000. Register Financial Advisors LLC acquired a new position in Alibaba Group during the first quarter worth approximately $31,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group in the 4th quarter worth $32,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of recent research reports. Citigroup lowered 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. Barclays reduced their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Loop Capital upped their price objective on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Morgan Stanley reiterated an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a research report on Tuesday, April 9th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.79.

Alibaba Group Price Performance

NYSE BABA traded down $1.27 during midday trading on Friday, hitting $75.27. The company had a trading volume of 7,557,264 shares, compared to its average volume of 12,206,969. The company has a market capitalization of $191.00 billion, a PE ratio of 17.55, a P/E/G ratio of 0.47 and a beta of 0.33. The firm has a 50-day moving average price of $77.92 and a 200-day moving average price of $75.09. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $102.50. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $30.73 billion during the quarter, compared to analysts’ expectations of $30.59 billion. As a group, analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Dividend Announcement

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