Alibaba Group (NYSE:BABA) Stock Price Down 0.9% After Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares dropped 0.9% during mid-day trading on Monday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $120.00 and last traded at $122.32. Approximately 6,224,062 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 20,316,614 shares. The stock had previously closed at $123.46.

Several other research firms also recently weighed in on BABA. Citigroup decreased their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Loop Capital set a $176.00 target price on shares of Alibaba Group in a report on Friday. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alibaba Group currently has a consensus rating of "Buy" and a consensus price target of $154.21.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC boosted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $31,000. Finally, Inlight Wealth Management LLC purchased a new position in Alibaba Group in the 1st quarter valued at about $31,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Down 0.6%

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $123.38 and a two-hundred day simple moving average of $107.33. The company has a market cap of $293.00 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. As a group, equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Alibaba Group Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be given 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 is currently 13.15%.

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.

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