Free Trial

Alibaba Group (NYSE:BABA) Trading Up 2.3% - Here's Why

Alibaba Group logo with Retail/Wholesale background

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded up 2.3% on Tuesday . The stock traded as high as $108.98 and last traded at $108.75. 4,222,338 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 19,922,033 shares. The stock had previously closed at $106.27.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup dropped 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 note on Tuesday, April 8th. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Mizuho decreased their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of "Moderate Buy" and a consensus target price of $154.13.

Get Our Latest Research Report on BABA

Alibaba Group Stock Up 1.6%

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 company has a fifty day moving average price of $118.73 and a 200 day moving average price of $114.15. The company has a market cap of $257.64 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.46 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Hedge Funds Weigh In On Alibaba Group

Hedge funds and other institutional investors have recently modified their holdings of the company. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC increased its holdings in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Alibaba Group in the 1st quarter valued at about $26,000. 1248 Management LLC purchased a new stake in Alibaba Group during the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. grew its position 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 acquiring an additional 196 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

About Alibaba Group

(Get Free Report)

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.

See Also

Should You Invest $1,000 in Alibaba Group Right Now?

Before you consider Alibaba Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alibaba Group wasn't on the list.

While Alibaba Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Made in America Stocks Under $20 You Need to See!
3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines