Principal Financial Group Inc. Has $2.26 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Principal Financial Group Inc. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 47.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 17,121 shares of the specialty retailer’s stock after selling 15,488 shares during the quarter. Principal Financial Group Inc.’s holdings in Alibaba Group were worth $2,264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BABA. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $31,000. Inlight Wealth Management LLC bought a new position in shares of Alibaba Group in the 1st quarter worth $31,000. Valley National Advisers Inc. grew its position in Alibaba Group by 151.9% in the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 161 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in Alibaba Group during the 1st quarter valued at $35,000. Finally, ORG Partners LLC raised its holdings in Alibaba Group by 950.0% during the first quarter. ORG Partners LLC now owns 315 shares of the specialty retailer’s stock worth $42,000 after buying an additional 285 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Barclays reduced their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday. Citigroup cut their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Bank of America dropped their price objective on Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.80.

Get Our Latest Research Report on Alibaba Group

Alibaba Group Stock Up 2.5%

BABA opened at $120.22 on Friday. Alibaba Group Holding Limited has a twelve month low of $73.87 and a twelve month high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $116.76 and its two-hundred day moving average price is $115.44. The stock has a market cap of $286.85 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.73 and a beta of 0.21.

Alibaba Group Cuts Dividend

The company also recently declared a — dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group’s payout ratio is 12.75%.

About Alibaba Group

(Free Report)

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.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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