Zweig DiMenna Associates LLC Invests $17.34 Million in Alibaba Group Holding Limited (NYSE:BABA)

Zweig DiMenna Associates LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 131,100 shares of the specialty retailer's stock, valued at approximately $17,335,000. Alibaba Group makes up about 2.7% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 8th largest holding.

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A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its position in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Inlight Wealth Management LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Valley National Advisers Inc. lifted its position in Alibaba Group by 151.9% during the 1st quarter. Valley National Advisers Inc. now owns 267 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 161 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Alibaba Group during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

Alibaba Group stock opened at $121.12 on Friday. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week 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 firm's 50-day simple moving average is $116.02 and its 200 day simple moving average is $116.43. The firm has a market capitalization of $289.00 billion, a PE ratio of 16.26, a P/E/G ratio of 1.80 and a beta of 0.21.

Alibaba Group Cuts Dividend

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The firm also recently disclosed a -- dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, June 12th were given a $0.95 dividend. The ex-dividend date was Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is presently 12.75%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BABA. Barclays lowered their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Citigroup lowered their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $150.80.

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View Our Latest Report on BABA

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.

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