Meyer Handelman Co. Has $247,000 Position in Alibaba Group Holding Limited (NYSE:BABA)

Meyer Handelman Co. lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 37.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,420 shares of the specialty retailer’s stock after selling 2,075 shares during the quarter. Meyer Handelman Co.’s holdings in Alibaba Group were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BABA. Primecap Management Co. CA boosted its position in shares of 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 increased its holdings in shares of Alibaba Group by 5.4% during the 4th quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer’s stock worth $1,228,398,000 after purchasing an additional 819,019 shares during the period. Morgan Stanley raised its position in shares of Alibaba Group by 13.8% during the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after buying an additional 1,406,491 shares during the last quarter. FIL Ltd lifted its stake in shares of 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 during the period. Finally, H&H International Investment LLC lifted its stake in shares of Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after buying an additional 1,918,730 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup cut their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Barclays decreased 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 note on Thursday, May 16th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. decreased their target price on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Finally, Loop Capital increased their price target 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.79.

Alibaba Group Stock Down 0.9 %

NYSE BABA opened at $73.67 on Friday. The firm has a market cap of $186.94 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 0.46 and a beta of 0.38. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The stock’s 50 day simple moving average is $77.83 and its 200 day simple moving average is $74.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79.

Alibaba Group (NYSE:BABA) last released 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. The business had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. As a group, sell-side analysts forecast that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Announces Dividend

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 given a dividend of $1.66 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio (DPR) is presently 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.