Summit Global Investments Sells 38,896 Shares of JD.com, Inc. (NASDAQ:JD)

Summit Global Investments lessened its holdings in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 72.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,026 shares of the information services provider's stock after selling 38,896 shares during the quarter. Summit Global Investments' holdings in JD.com were worth $618,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in JD. Richardson Financial Services Inc. acquired a new position in JD.com in the fourth quarter worth approximately $27,000. Nisa Investment Advisors LLC lifted its position in shares of JD.com by 71.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the information services provider's stock worth $35,000 after buying an additional 417 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of JD.com by 111.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,297 shares of the information services provider's stock valued at $45,000 after acquiring an additional 684 shares in the last quarter. GeoWealth Management LLC grew its holdings in JD.com by 129.1% during the fourth quarter. GeoWealth Management LLC now owns 1,393 shares of the information services provider's stock valued at $48,000 after purchasing an additional 785 shares during the last quarter. Finally, WASHINGTON TRUST Co bought a new stake in shares of JD.com during the 4th quarter worth $52,000. 15.98% of the stock is currently owned by institutional investors and hedge funds.

JD.com Trading Down 1.4%

Shares of NASDAQ JD traded down $0.45 during midday trading on Tuesday, reaching $32.41. 6,994,554 shares of the stock were exchanged, compared to its average volume of 13,987,210. JD.com, Inc. has a 12 month low of $24.13 and a 12 month high of $47.82. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.31 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.17 and a quick ratio of 0.90. The business has a 50-day simple moving average of $35.02 and a two-hundred day simple moving average of $37.41.

JD.com Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 8th were issued a dividend of $0.76 per share. This represents a yield of 1.7%. The ex-dividend date was Tuesday, April 8th. This is a boost from JD.com's previous annual dividend of $0.74. JD.com's dividend payout ratio is 23.84%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of JD.com from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Mizuho reduced their price objective on JD.com from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of JD.com from a "buy" rating to a "hold" rating in a research note on Friday. Bank of America lowered their target price on shares of JD.com from $51.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of JD.com in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.33.

JD.com Profile

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.