Alibaba Group (NYSE:BABA) Trading Down 1.4% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares fell 1.4% on Thursday . The stock traded as low as $113.02 and last traded at $113.38. 13,953,384 shares traded hands during trading, a decline of 30% from the average session volume of 19,969,197 shares. The stock had previously closed at $115.03.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BABA. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research note on Wednesday, May 14th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their target price for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Robert W. Baird cut their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Wall Street Zen raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of "Buy" and a consensus target price of $154.21.

Alibaba Group Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The business's 50 day moving average is $119.34 and its 200 day moving average is $112.08. The stock has a market capitalization of $269.30 billion, a PE ratio of 15.16, a PEG ratio of 0.46 and a beta of 0.22.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be paid a dividend of $0.95 per share. 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 Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings in shares of Alibaba Group by 1,048.9% in the first quarter. Voya Investment Management LLC now owns 454,980 shares of the specialty retailer's stock worth $60,162,000 after purchasing an additional 415,380 shares during the last quarter. Guinness Asset Management LTD grew its stake in Alibaba Group by 30.8% in the 1st quarter. Guinness Asset Management LTD now owns 497 shares of the specialty retailer's stock worth $66,000 after acquiring an additional 117 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Alibaba Group during the first quarter worth approximately $26,000. Integrity Wealth Advisors Inc. increased its position in shares of Alibaba Group by 43.7% during the first quarter. Integrity Wealth Advisors Inc. now owns 4,376 shares of the specialty retailer's stock worth $579,000 after acquiring an additional 1,330 shares during the period. Finally, Modern Wealth Management LLC increased its position in shares of Alibaba Group by 5.9% during the first quarter. Modern Wealth Management LLC now owns 2,757 shares of the specialty retailer's stock worth $365,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

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.