Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 53.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,746 shares of the specialty retailer’s stock after selling 48,404 shares during the period. PNC Financial Services Group Inc.’s holdings in Alibaba Group were worth $3,236,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Sanders Capital LLC grew its stake in shares of Alibaba Group by 322.7% in the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock worth $1,303,636,000 after purchasing an additional 11,473,618 shares in the last quarter. Norges Bank acquired a new position in Alibaba Group during the 4th quarter valued at about $329,367,000. Blue Pool Management Ltd. acquired a new stake in shares of Alibaba Group in the 4th quarter worth approximately $151,726,000. Morgan Stanley boosted its holdings in shares of Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after acquiring an additional 1,406,491 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Alibaba Group by 65.6% during the third quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer’s stock valued at $304,318,000 after acquiring an additional 1,389,233 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of BABA stock opened at $81.26 on Friday. The stock’s fifty day simple moving average is $75.93 and its 200-day simple moving average is $75.14. The company has a market capitalization of $206.20 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 0.49 and a beta of 0.44. The company has a current ratio of 1.79, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $102.50.

Alibaba Group Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be issued a $1.66 dividend. The ex-dividend date is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s dividend payout ratio is 22.84%.

Analyst Ratings Changes

A number of brokerages have issued reports on BABA. Barclays decreased their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Truist Financial lowered their target price on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Morgan Stanley reissued an “equal weight” rating and issued a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Macquarie cut shares of Alibaba Group from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $88.50 to $85.40 in a research note on Thursday, February 8th. Finally, Susquehanna cut their target price on shares of Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $109.96.

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.