Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Invenomic Capital Management LP

Invenomic Capital Management LP grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 110,001 shares of the specialty retailer’s stock after acquiring an additional 9,761 shares during the period. Invenomic Capital Management LP’s holdings in Alibaba Group were worth $7,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Baystate Wealth Management LLC lifted its position in shares of Alibaba Group by 184.6% during the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 216 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Alibaba Group in the fourth quarter valued at $26,000. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group in the first quarter valued at $31,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Alibaba Group in the fourth quarter valued at $32,000. Finally, Bear Mountain Capital Inc. purchased a new stake in shares of Alibaba Group in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BABA. Truist Financial reduced their target price on Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Citigroup reduced their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Bank of America increased their price objective on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Mizuho cut their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.19.

Alibaba Group Stock Down 0.8 %

Alibaba Group stock traded down $0.62 during mid-day trading on Tuesday, hitting $78.00. 8,422,668 shares of the company’s stock were exchanged, compared to its average volume of 16,915,266. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The stock has a market cap of $197.93 billion, a P/E ratio of 18.13, a P/E/G ratio of 0.47 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $102.50. The stock has a 50 day moving average of $76.93 and a two-hundred day moving average of $75.25.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.13. The company 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%. As a group, analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Dividend Announcement

The firm also recently declared a None dividend, which was paid on Friday, July 12th. Stockholders of record on Thursday, June 13th were given a $1.66 dividend. This represents a dividend yield of 3%. The ex-dividend date was 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.