Alibaba Group (NYSE:BABA) Shares Down 2% - What's Next?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price dropped 2% during mid-day trading on Wednesday . The stock traded as low as $117.00 and last traded at $117.11. Approximately 3,768,046 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 19,974,214 shares. The stock had previously closed at $119.52.

Analyst Ratings Changes

BABA has been the topic of several research analyst reports. Barclays raised their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Bank of America lifted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $154.21.

Alibaba Group Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The company's 50 day moving average price is $119.64 and its 200 day moving average price is $108.81. The firm has a market capitalization of $271.72 billion, a P/E ratio of 16.46, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The business also recently declared a -- dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is currently 13.83%.

Institutional Trading of Alibaba Group

Several hedge funds have recently modified their holdings of the stock. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter worth about $26,000. Summit Securities Group LLC raised its holdings in 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 purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group during the 1st quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its holdings in 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 purchasing an additional 196 shares during the last quarter. Finally, Inlight Wealth Management LLC bought a new stake in Alibaba Group during the 1st quarter worth about $31,000. 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.