Thurston Springer Miller Herd & Titak Inc. Decreases Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Thurston Springer Miller Herd & Titak Inc. lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 86.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,249 shares of the specialty retailer’s stock after selling 7,646 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Alibaba Group were worth $90,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baystate Wealth Management LLC increased its stake in Alibaba Group by 184.6% in the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 216 shares during the period. EdgeRock Capital LLC bought a new position in shares of Alibaba Group during the 4th quarter worth $26,000. Register Financial Advisors LLC bought a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Bear Mountain Capital Inc. bought a new position in shares of Alibaba Group during the 4th quarter worth $42,000. Finally, ICA Group Wealth Management LLC bought a new stake in Alibaba Group during the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA traded up $0.94 during trading on Tuesday, hitting $77.92. The company’s stock had a trading volume of 12,103,451 shares, compared to its average volume of 16,749,516. 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 Holding Limited has a twelve month low of $66.63 and a twelve month high of $101.84. The business’s fifty day simple moving average is $76.47 and its 200 day simple moving average is $75.52. The firm has a market capitalization of $197.72 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 0.48 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $30.59 billion. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Loop Capital raised their price objective on Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Truist Financial decreased their price target on Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Wednesday, May 15th. Barclays decreased their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Finally, Bank of America raised their price objective on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.19.

About Alibaba Group

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.