Accent Capital Management LLC Buys New Shares in Alibaba Group Holding Limited (NYSE:BABA)

Accent Capital Management LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the specialty retailer’s stock, valued at approximately $233,000.

Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new stake in Alibaba Group in the 3rd quarter valued at about $58,000. Rhumbline Advisers raised its stake in Alibaba Group by 1.9% in the third quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock valued at $2,085,000 after buying an additional 446 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Alibaba Group by 8.6% in the third quarter. PNC Financial Services Group Inc. now owns 90,150 shares of the specialty retailer’s stock valued at $7,820,000 after buying an additional 7,128 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Alibaba Group by 2.1% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer’s stock worth $584,000 after acquiring an additional 136 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in Alibaba Group in the 3rd quarter valued at $2,785,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Up 1.6 %

NYSE BABA traded up $1.19 on Monday, hitting $74.54. 13,441,679 shares of the company were exchanged, compared to its average volume of 18,198,396. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $102.50. 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 company has a market cap of $189.15 billion, a PE ratio of 17.38, a PEG ratio of 0.45 and a beta of 0.38. The stock has a fifty day moving average of $77.77 and a 200-day moving average of $74.93.

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

Alibaba Group Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, July 12th. Investors 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 presently 22.84%.

Wall Street Analysts Forecast Growth

BABA has been the subject of a number of research reports. Mizuho dropped their target price on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 15th. Truist Financial reduced 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. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, Citigroup dropped their price objective on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.79.

Alibaba Group Company 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.