Sunbelt Securities Inc. Raises Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sunbelt Securities Inc. boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 11.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,697 shares of the specialty retailer’s stock after buying an additional 1,353 shares during the period. Sunbelt Securities Inc.’s holdings in Alibaba Group were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. Baystate Wealth Management LLC boosted its position in Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Alibaba Group in the 4th quarter valued at about $26,000. Anchor Investment Management LLC purchased a new position in shares of Alibaba Group in the 4th quarter worth approximately $31,000. LFA Lugano Financial Advisors SA bought a new position in shares of Alibaba Group during the 4th quarter worth approximately $32,000. Finally, Headinvest LLC purchased a new stake in Alibaba Group during the third quarter valued at approximately $35,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $72.37 on Friday. The business’s 50-day moving average is $78.10 and its two-hundred day moving average is $74.99. The company has a market capitalization of $183.64 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.46 and a beta of 0.38. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79.

Alibaba Group (NYSE:BABA) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.92 by $0.13. The firm 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%. Research analysts predict that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Announces Dividend

The company also recently announced a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be issued a dividend of $1.66 per share. This represents a dividend yield of 3%. The ex-dividend date of this dividend is Thursday, June 13th. Alibaba Group’s dividend payout ratio (DPR) is 22.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup reduced their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $85.00 target price on shares of Alibaba Group in a research report on Tuesday, April 9th. Bank of America raised their price target on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Loop Capital upped their price objective on shares of Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.79.

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.