Spire Wealth Management Has $777,000 Stake in Alibaba Group Holding Limited (NYSE:BABA)

Spire Wealth Management increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 54.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,873 shares of the specialty retailer’s stock after acquiring an additional 2,059 shares during the period. Spire Wealth Management’s holdings in Alibaba Group were worth $777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Proactive Wealth Strategies LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $279,000. Hi Line Capital Management LLC grew its position in Alibaba Group by 17.5% in the first quarter. Hi Line Capital Management LLC now owns 73,042 shares of the specialty retailer’s stock valued at $9,658,000 after purchasing an additional 10,858 shares in the last quarter. Bluesphere Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $762,000. Legacy Advisors LLC increased its stake in Alibaba Group by 1.8% in the 1st quarter. Legacy Advisors LLC now owns 11,185 shares of the specialty retailer’s stock valued at $1,479,000 after buying an additional 202 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $272,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 0.2%

Shares of BABA opened at $114.11 on Friday. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The firm has a market cap of $272.13 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.22. The firm’s 50-day simple moving average is $119.76 and its 200 day simple moving average is $112.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.55.

Alibaba Group Cuts Dividend

The business also recently declared a — dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s dividend payout ratio (DPR) is currently 13.83%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BABA shares. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup lowered their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Arete lowered shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price objective on the stock. in a research note on Tuesday. Robert W. Baird lowered their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Finally, Mizuho lowered their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.13.

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.