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

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

Analysts Set New Price Targets

BABA has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America raised their price target on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Finally, Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $154.21.

Alibaba Group Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market cap of $271.72 billion, a PE ratio of 16.46, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a fifty day moving average price of $119.64 and a 200 day moving average price of $108.81.

Alibaba Group Cuts Dividend

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

Institutional Trading of Alibaba Group

Several large investors have recently modified their holdings of the business. Brighton Jones LLC boosted its position in Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Alibaba Group during the 4th quarter valued at approximately $232,000. Kingswood Wealth Advisors LLC bought a new stake in Alibaba Group during the 4th quarter valued at approximately $235,000. Union Bancaire Privee UBP SA bought a new stake in Alibaba Group during the 4th quarter valued at approximately $6,478,000. Finally, KBC Group NV bought a new stake in Alibaba Group during the 4th quarter valued at approximately $2,120,000. 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.