Alibaba Group (NYSE:BABA) Stock Price Up 6.7% Following Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price traded up 6.7% during trading on Thursday after Bank of America raised their price target on the stock from $99.00 to $103.00. Bank of America currently has a buy rating on the stock. Alibaba Group traded as high as $86.75 and last traded at $86.39. 20,187,540 shares traded hands during trading, an increase of 12% from the average session volume of 18,069,303 shares. The stock had previously closed at $80.99.

Several other analysts have also recently weighed in on BABA. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research report on Tuesday, February 27th. Susquehanna decreased their price target on shares of Alibaba Group from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, February 8th. Truist Financial cut their price objective on shares of Alibaba Group from $113.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Alibaba Group from $121.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, February 8th. Finally, Citigroup cut their price target on Alibaba Group from $124.00 to $122.00 and set a "buy" rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $109.96.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA increased its position in shares of Alibaba Group by 5.1% during 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 during the last quarter. Sanders Capital LLC increased 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 valued at $1,228,398,000 after buying an additional 819,019 shares during the last quarter. Morgan Stanley raised its position in Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock worth $1,007,058,000 after acquiring an additional 1,406,491 shares during the period. FIL Ltd boosted its stake in shares of Alibaba Group by 10.2% during the 4th quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer's stock worth $823,986,000 after acquiring an additional 983,842 shares during the last quarter. Finally, H&H International Investment LLC grew its position 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 valued at $384,390,000 after acquiring an additional 1,918,730 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Up 7.1 %

The company has a market capitalization of $220.00 billion, a P/E ratio of 15.94 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a fifty day moving average of $74.44 and a 200 day moving average of $75.09.

Alibaba Group Announces Dividend

The business also recently disclosed a None dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Thursday, June 13th will be given a dividend of $1.66 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group's payout ratio is currently 18.08%.

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.