Alibaba Group (NYSE:BABA) Stock Price Down 0.9% - Here's What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) were down 0.9% during mid-day trading on Wednesday . The company traded as low as $123.97 and last traded at $124.07. Approximately 3,239,923 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 20,247,774 shares. The stock had previously closed at $125.16.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America increased their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a report on Friday, February 21st. Mizuho reduced their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price target for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average price target of $154.21.

Alibaba Group Stock Down 0.6%

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 firm's fifty day moving average is $121.53 and its 200-day moving average is $108.13. The stock has a market capitalization of $287.99 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results 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 net margin of 12.29% and a return on equity of 12.89%. The business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. On average, sell-side 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. Stockholders of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio is 13.83%.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC raised 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 valued at $26,000 after buying 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 acquired a new position in shares of Alibaba Group during the 1st quarter worth about $31,000. Institutional investors and hedge funds 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.