Alibaba Group (NYSE:BABA) Price Target Raised to $103.00

Alibaba Group (NYSE:BABA - Free Report) had its price objective hoisted by Bank of America from $99.00 to $103.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty retailer's stock.

Several other brokerages have also commented on BABA. The Goldman Sachs Group dropped their price objective on Alibaba Group from $121.00 to $105.00 and set a buy rating on the stock in a report on Thursday, February 8th. Robert W. Baird reduced their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an outperform rating for the company in a research report on Friday, January 19th. Benchmark reissued a buy rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday. Citigroup dropped their price target on Alibaba Group from $124.00 to $122.00 and set a buy rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Alibaba Group from $105.00 to $100.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group has an average rating of Moderate Buy and a consensus target price of $109.96.

Alibaba Group Stock Performance

Alibaba Group stock traded up $5.72 during midday trading on Thursday, hitting $86.71. 47,167,508 shares of the company were exchanged, compared to its average volume of 18,409,555. The firm has a market capitalization of $220.03 billion, a PE ratio of 16.00 and a beta of 0.44. Alibaba Group has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The business has a fifty day simple moving average of $74.44 and a two-hundred day simple moving average of $75.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80.

Alibaba Group Announces Dividend

The firm also recently announced a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be paid a dividend of $1.66 per share. The ex-dividend date is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group's dividend payout ratio (DPR) is 18.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BABA. Primecap Management Co. CA boosted its holdings in Alibaba Group by 5.1% in the 4th quarter. Primecap Management Co. CA now owns 18,224,982 shares of the specialty retailer's stock valued at $1,412,618,000 after purchasing an additional 881,710 shares in the last quarter. Sanders Capital LLC raised its holdings in Alibaba Group by 5.4% during the fourth quarter. Sanders Capital LLC now owns 15,848,257 shares of the specialty retailer's stock worth $1,228,398,000 after purchasing an additional 819,019 shares during the last quarter. Morgan Stanley grew its holdings in Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock valued at $1,007,058,000 after purchasing an additional 1,406,491 shares during the last quarter. FIL Ltd increased its position in shares of Alibaba Group by 10.2% in the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer's stock valued at $823,986,000 after buying an additional 983,842 shares in the last quarter. Finally, H&H International Investment LLC raised its stake in shares of Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer's stock worth $384,390,000 after buying an additional 1,918,730 shares during the last quarter. 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.