Alibaba Group Holding Limited (NYSE:BABA) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.1% during the first quarter, Holdings Channel reports. The fund owned 20,666 shares of the specialty retailer’s stock after purchasing an additional 4,153 shares during the quarter. Procyon Advisors LLC’s holdings in Alibaba Group were worth $1,495,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Baystate Wealth Management LLC boosted its stake in Alibaba Group by 184.6% in 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 last quarter. EdgeRock Capital LLC acquired a new stake in Alibaba Group in the 4th quarter worth about $26,000. Anchor Investment Management LLC acquired a new stake in Alibaba Group in the 4th quarter worth about $31,000. Headinvest LLC purchased a new position in shares of Alibaba Group in the 3rd quarter worth about $35,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Alibaba Group in the 4th quarter worth about $32,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. 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 report on Wednesday, May 15th. Citigroup cut their price objective on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Loop Capital raised their price objective on Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Barclays cut their price objective on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group Price Performance

BABA stock opened at $72.37 on Friday. 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 Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The stock’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 PE ratio of 16.87, a P/E/G ratio of 0.46 and a beta of 0.38.

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

Alibaba Group Dividend Announcement

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. The ex-dividend date is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s payout ratio is 22.84%.

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.