Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) traded down 1.2% during mid-day trading on Friday . The company traded as low as $118.54 and last traded at $118.56. 3,042,823 shares were traded during mid-day trading, a decline of 85% from the average session volume of 19,953,304 shares. The stock had previously closed at $119.96.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $154.21.
View Our Latest Analysis on BABA
Alibaba Group Stock Down 1.3%
The firm's 50-day moving average price is $118.37 and its 200-day moving average price is $109.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $282.60 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.
Alibaba Group Cuts Dividend
The company also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's payout ratio is currently 13.83%.
Institutional Trading of Alibaba Group
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Accent Capital Management LLC raised its position in shares of Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after purchasing an additional 82 shares in the last quarter. Greenleaf Trust raised its holdings in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after acquiring an additional 85 shares in the last quarter. Marcum Wealth LLC boosted its stake in Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares during the last quarter. Principal Securities Inc. grew its holdings in Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after acquiring an additional 89 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.
About Alibaba Group
(
Get 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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