Alibaba Group (NYSE:BABA) Trading Down 3.4% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was down 3.4% on Wednesday . The stock traded as low as $104.01 and last traded at $104.35. Approximately 8,986,338 shares traded hands during trading, a decline of 55% from the average daily volume of 19,944,100 shares. The stock had previously closed at $107.99.

Analysts Set New Price Targets

Several analysts have recently weighed in on BABA shares. Robert W. Baird dropped their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Benchmark decreased their price objective on Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a report on Tuesday, June 24th. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $154.13.

Alibaba Group Stock Up 1.6%

The stock has a market capitalization of $251.63 billion, a P/E ratio of 14.14, a PEG ratio of 0.47 and a beta of 0.22. The firm's 50-day simple moving average is $118.42 and its 200 day simple moving average is $114.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

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 paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is currently 13.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BABA. Wealth Enhancement Advisory Services LLC grew its position in shares of Alibaba Group by 30.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 94,489 shares of the specialty retailer's stock worth $10,271,000 after purchasing an additional 21,908 shares in the last quarter. TT International Asset Management LTD grew its position in shares of Alibaba Group by 16.4% during the 2nd quarter. TT International Asset Management LTD now owns 593,014 shares of the specialty retailer's stock worth $67,254,000 after purchasing an additional 83,660 shares in the last quarter. American Financial Advisors LLC lifted its holdings in shares of Alibaba Group by 36.0% during the 2nd quarter. American Financial Advisors LLC now owns 2,442 shares of the specialty retailer's stock worth $277,000 after acquiring an additional 646 shares during the period. KMG Fiduciary Partners LLC lifted its holdings in shares of Alibaba Group by 11.3% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 16,391 shares of the specialty retailer's stock worth $1,859,000 after acquiring an additional 1,658 shares during the period. Finally, Focus Financial Network Inc. lifted its holdings in shares of Alibaba Group by 3.7% during the 2nd quarter. Focus Financial Network Inc. now owns 9,153 shares of the specialty retailer's stock worth $1,038,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

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.