Alibaba Group (NYSE:BABA) Shares Down 1.4% - Here's Why

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) were down 1.4% during trading on Wednesday . The stock traded as low as $115.10 and last traded at $115.43. Approximately 4,133,164 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 19,916,548 shares. The stock had previously closed at $117.01.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. 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 report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Finally, Mizuho dropped their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $154.13.

Alibaba Group Price Performance

The stock has a market cap of $271.60 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.49 and a beta of 0.22. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The company's fifty day moving average is $119.56 and its 200 day moving average is $112.50.

Alibaba Group Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group's payout ratio is 13.83%.

Institutional Trading of Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Alibaba Group during the fourth quarter worth $585,479,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

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.