Cumberland Advisors Inc. Sells 600 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Cumberland Advisors Inc. decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,525 shares of the specialty retailer’s stock after selling 600 shares during the period. Cumberland Advisors Inc.’s holdings in Alibaba Group were worth $762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Alibaba Group by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock worth $2,085,000 after purchasing an additional 446 shares during the last quarter. LPL Financial LLC increased its stake in shares of Alibaba Group by 3.6% during the 3rd quarter. LPL Financial LLC now owns 313,839 shares of the specialty retailer’s stock worth $27,222,000 after purchasing an additional 10,853 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Alibaba Group by 18.8% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,997 shares of the specialty retailer’s stock valued at $433,000 after buying an additional 790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Alibaba Group in the 3rd quarter valued at approximately $2,210,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Alibaba Group by 19.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 57,212 shares of the specialty retailer’s stock valued at $4,963,000 after buying an additional 9,495 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BABA shares. Morgan Stanley reiterated an “equal weight” rating and issued a $85.00 price objective on shares of Alibaba Group in a research note on Tuesday, April 9th. Citigroup dropped their price objective on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Mizuho dropped their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Truist Financial dropped their price objective on shares of Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Benchmark reaffirmed a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $108.79.

Alibaba Group Trading Down 2.1 %

Shares of NYSE BABA traded down $1.59 during midday trading on Thursday, hitting $72.58. 6,510,083 shares of the company traded hands, compared to its average volume of 17,822,098. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. 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 stock has a 50-day moving average price of $78.10 and a 200 day moving average price of $74.99. The firm has a market cap of $184.17 billion, a P/E ratio of 16.97, 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 EPS for the quarter, topping the consensus estimate of $0.92 by $0.13. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The business had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. As a group, analysts expect that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Dividend Announcement

The firm also recently disclosed a None dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 13th will be paid a dividend of $1.66 per share. This represents a yield of 3%. The ex-dividend date of this dividend is Thursday, June 13th. Alibaba Group’s 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.