Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shot up 2.8% during trading on Friday . The stock traded as high as $122.16 and last traded at $120.62. 14,976,518 shares were traded during trading, a decline of 34% from the average session volume of 22,686,023 shares. The stock had previously closed at $117.30.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on BABA. Mizuho cut their price target 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. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research report on Friday, May 16th. Finally, Barclays reduced their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $150.80.
View Our Latest Stock Analysis on BABA
Alibaba Group Stock Up 2.3%
The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $286.26 billion, a PE ratio of 16.12, a PEG ratio of 1.70 and a beta of 0.21. The business has a 50 day moving average of $116.86 and a two-hundred day moving average of $115.19.
Alibaba Group Cuts Dividend
The firm also recently announced a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group's dividend payout ratio is currently 12.75%.
Institutional Investors Weigh In On Alibaba Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BABA. Kingstone Capital Partners Texas LLC lifted its position in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after acquiring an additional 49,010,087 shares during the period. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after acquiring an additional 2,584,480 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Norges Bank bought a new position in Alibaba Group in the 4th quarter worth approximately $585,479,000. Hedge funds and other institutional investors own 13.47% of the company's stock.
Alibaba Group Company Profile
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.