Alibaba Group (NYSE:BABA) Trading Down 1.4% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares dropped 1.4% during mid-day trading on Monday . The stock traded as low as $107.12 and last traded at $107.23. Approximately 5,269,320 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 19,936,307 shares. The stock had previously closed at $108.70.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a report on Tuesday, June 24th. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a report on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Citigroup cut their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.13.

Alibaba Group Trading Up 2.7%

The stock has a market capitalization of $254.40 billion, a PE ratio of 14.31, a PEG ratio of 0.45 and a beta of 0.21. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The business's 50-day moving average is $118.42 and its two-hundred day moving average is $114.09.

Alibaba Group Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.95 per share. The ex-dividend date is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is presently 12.75%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BABA. 1248 Management LLC bought a new position in Alibaba Group in the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC boosted its holdings in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group during the first quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.