Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares dropped 1.7% on Thursday . The stock traded as low as $116.15 and last traded at $116.27. Approximately 3,835,588 shares changed hands during trading, a decline of 81% from the average daily volume of 19,940,010 shares. The stock had previously closed at $118.33.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on BABA. Benchmark decreased their target price on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Citigroup cut their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $154.21.
Get Our Latest Stock Analysis on Alibaba Group
Alibaba Group Price Performance
The company has a market cap of $268.93 billion, a P/E ratio of 16.29, a P/E/G ratio of 0.61 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The firm's fifty day moving average is $118.08 and its two-hundred day moving average is $110.74.
Alibaba Group Cuts Dividend
The company also recently announced a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 12th. Alibaba Group's dividend payout ratio is currently 13.83%.
Institutional Trading of Alibaba Group
Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Appaloosa LP lifted its stake in Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Alibaba Group by 43.0% in 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 purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Alibaba Group by 85.6% in the 1st 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 in the last quarter. Finally, Norges Bank purchased a new stake in Alibaba Group in the 4th quarter worth $585,479,000. Hedge funds and other institutional investors own 13.47% of the company's stock.
About Alibaba Group
(
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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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