Alibaba Group (NYSE:BABA) Shares Down 2.2% - What's Next?

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price dropped 2.2% on Wednesday . The company traded as low as $110.54 and last traded at $111.45. Approximately 5,004,641 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 19,911,575 shares. The stock had previously closed at $113.97.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BABA. Citigroup lowered their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a research report on Tuesday, June 24th. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $154.13.

Alibaba Group Price Performance

The firm has a market capitalization of $259.31 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.49 and a beta of 0.22. The stock's fifty day simple moving average is $119.63 and its 200 day simple moving average is $113.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Alibaba Group Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a dividend yield of 0.8%. Alibaba Group's dividend payout ratio (DPR) is presently 13.83%.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group during the 1st quarter worth $26,000. Summit Securities Group LLC boosted its holdings in 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 acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group during the first quarter worth about $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 196 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

About Alibaba Group

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.