Sound Income Strategies LLC Increases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Sound Income Strategies LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 94.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,526 shares of the specialty retailer’s stock after acquiring an additional 740 shares during the period. Sound Income Strategies LLC’s holdings in Alibaba Group were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Primecap Management Co. CA increased its holdings in shares of Alibaba Group by 5.1% during the 4th quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer’s stock worth $1,412,618,000 after buying an additional 881,710 shares during the last quarter. Sanders Capital LLC increased its position in 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 in the last quarter. Morgan Stanley raised its holdings in Alibaba Group by 13.8% in 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 period. FIL Ltd increased its position 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 worth $823,986,000 after acquiring an additional 983,842 shares in the last quarter. Finally, H&H International Investment LLC raised its stake in shares of Alibaba Group by 63.1% in the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Truist Financial decreased their target price 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. Citigroup dropped 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. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. dropped their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.79.

Alibaba Group Trading Up 0.5 %

Shares of NYSE BABA traded up $0.37 during mid-day trading on Wednesday, hitting $74.16. The stock had a trading volume of 7,001,711 shares, compared to its average volume of 17,914,697. The firm has a market cap of $188.18 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 0.46 and a beta of 0.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79. The business has a 50 day moving average price of $78.00 and a two-hundred day moving average price of $75.00. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50.

Alibaba Group (NYSE:BABA) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. The firm had revenue of $30.73 billion for the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. On average, equities analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The business also recently declared a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be given a $1.66 dividend. The ex-dividend date is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s dividend payout ratio is currently 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.