Capital Investment Counsel Inc Has $1.86 Million Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Capital Investment Counsel Inc trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,744 shares of the specialty retailer’s stock after selling 3,273 shares during the quarter. Capital Investment Counsel Inc’s holdings in Alibaba Group were worth $1,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baystate Wealth Management LLC raised its holdings in Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock worth $26,000 after buying an additional 216 shares during the period. EdgeRock Capital LLC acquired a new position in Alibaba Group in the fourth quarter valued at about $26,000. Anchor Investment Management LLC bought a new position in Alibaba Group in the fourth quarter valued at approximately $31,000. Register Financial Advisors LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth $31,000. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Alibaba Group in the fourth quarter worth about $32,000. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

BABA has been the subject of a number of research reports. Barclays dropped their price objective on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Citigroup dropped their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Truist Financial cut their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. JPMorgan Chase & Co. decreased their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.79.

Alibaba Group Trading Down 1.4 %

Shares of Alibaba Group stock traded down $1.05 during trading on Friday, reaching $74.52. The company’s stock had a trading volume of 14,928,681 shares, compared to its average volume of 11,079,530. The firm’s 50-day moving average is $78.29 and its two-hundred day moving average is $75.03. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The company has a market cap of $189.09 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.47 and a beta of 0.33. The company has a quick ratio of 1.79, a current 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, beating 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 firm had revenue of $30.73 billion for the quarter, compared to analysts’ expectations of $30.59 billion. On average, sell-side analysts anticipate 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 given a $1.66 dividend. This represents a dividend yield of 3%. The ex-dividend date is Thursday, June 13th. 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.