Alibaba Group (NYSE:BABA) Shares Down 2.7% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price fell 2.7% during trading on Friday . The company traded as low as $113.45 and last traded at $114.06. 5,677,371 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 19,943,757 shares. The stock had previously closed at $117.18.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays raised their target price on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Mizuho dropped their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Citigroup reduced their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and increased their target price for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $154.21.

Alibaba Group Trading Up 1.0%

The company's 50-day moving average is $119.64 and its 200-day moving average is $109.05. 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 has a market cap of $274.41 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The business also recently declared 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 dividend 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Accent Capital Management LLC lifted its stake in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after buying an additional 82 shares during the period. Greenleaf Trust raised its holdings in shares of 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 purchasing an additional 85 shares during the last quarter. Marcum Wealth LLC grew its position in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares in the last quarter. Principal Securities Inc. increased its stake in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after buying an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.