Alibaba Group (NYSE:BABA) Stock Price Down 2% - Should You Sell?

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

Wall Street Analysts Forecast Growth

BABA has been the subject of several research analyst reports. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. Benchmark dropped their price objective on shares of Alibaba Group from $190.00 to $176.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Barclays upped their target price on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Buy" and an average target price of $154.21.

Alibaba Group Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company's 50 day moving average price is $120.01 and its 200-day moving average price is $108.65. The stock has a market cap of $279.61 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.

Alibaba Group Cuts Dividend

The firm also recently disclosed 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 is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is currently 13.83%.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Alibaba Group during the 1st quarter worth $63,433,000. Turn8 Private Wealth Inc. bought a new stake in shares of Alibaba Group during the 1st quarter valued at about $727,000. Advisors Capital Management LLC grew its holdings in shares of Alibaba Group by 20.7% during the first quarter. Advisors Capital Management LLC now owns 7,793 shares of the specialty retailer's stock worth $1,030,000 after purchasing an additional 1,338 shares in the last quarter. Focus Partners Wealth increased its position in shares of Alibaba Group by 23.8% in the first quarter. Focus Partners Wealth now owns 17,993 shares of the specialty retailer's stock worth $2,379,000 after purchasing an additional 3,456 shares during the last quarter. Finally, Integrity Alliance LLC. purchased a new stake in Alibaba Group in the first quarter valued at approximately $724,000. 13.47% of the stock is owned by hedge funds and other 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.