Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares rose 2.5% during mid-day trading on Thursday . The stock traded as high as $120.12 and last traded at $120.33. Approximately 4,199,745 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 22,072,949 shares. The stock had previously closed at $117.38.
Wall Street Analysts Forecast Growth
BABA has been the subject of several research analyst reports. Bank of America cut their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Mizuho cut their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research report on Wednesday, May 14th. Robert W. Baird dropped their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $153.29.
View Our Latest Stock Report on BABA
Alibaba Group Trading Down 2.7%
The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $280.06 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.73 and a beta of 0.21. The business has a 50 day moving average of $115.68 and a 200 day moving average of $117.71.
Alibaba Group Cuts Dividend
The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were paid a $0.95 dividend. This represents a yield of 80.0%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group's payout ratio is presently 12.75%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC grew its stake in Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the period. Goldman Sachs Group Inc. grew its stake in Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after acquiring an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after acquiring an additional 2,584,480 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 valued at $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. Finally, Bank of America Corp DE grew its stake in Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after acquiring an additional 438,537 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.
Alibaba Group Company Profile
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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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