Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 93.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,129 shares of the specialty retailer’s stock after purchasing an additional 19,832 shares during the period. Principal Financial Group Inc.’s holdings in Alibaba Group were worth $2,976,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Baystate Wealth Management LLC grew 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 period. EdgeRock Capital LLC purchased a new position in Alibaba Group in the 4th quarter worth approximately $26,000. Anchor Investment Management LLC acquired a new position in shares of Alibaba Group during the 4th quarter worth approximately $31,000. Register Financial Advisors LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in Alibaba Group during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 1.7 %

Shares of NYSE:BABA traded down $1.26 during midday trading on Friday, reaching $74.31. The company had a trading volume of 8,305,440 shares, compared to its average volume of 17,580,744. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The stock has a market capitalization of $188.56 billion, a P/E ratio of 17.26, a PEG ratio of 0.47 and a beta of 0.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock’s fifty day moving average price is $78.32 and its 200-day moving average price is $75.03.

Alibaba Group (NYSE:BABA) last posted its earnings results 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 during the quarter, compared to analyst estimates of $30.59 billion. Equities research analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share 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. Investors of record on Thursday, June 13th will be paid a $1.66 dividend. The ex-dividend date is Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio is currently 22.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BABA shares. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, May 15th. Barclays dropped their target price on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Morgan Stanley reissued an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research report on Tuesday, April 9th. Mizuho decreased their target price on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Bank of America upped their price objective on Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target 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.