Alibaba Group (NYSE:BABA) Trading Up 3.4% After Analyst Upgrade

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares shot up 3.4% during mid-day trading on Friday 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 $90.46 and last traded at $89.69. 19,728,836 shares were traded during trading, an increase of 7% from the average session volume of 18,405,443 shares. The stock had previously closed at $86.70.

A number of other research analysts have also weighed in on BABA. Truist Financial reduced their price target on Alibaba Group from $113.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday. Susquehanna decreased their price target on Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 8th. Macquarie lowered shares of Alibaba Group from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $88.50 to $85.40 in a report on Thursday, February 8th. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research report on Tuesday, February 27th. Finally, Benchmark reaffirmed a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $109.96.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baystate Wealth Management LLC increased its position in shares of Alibaba Group by 184.6% during the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 216 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Alibaba Group during the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $30,000. Milestone Investment Advisors LLC purchased a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $31,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Alibaba Group in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Up 2.1 %

The company has a quick ratio of 1.80, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm has a market cap of $224.72 billion, a P/E ratio of 20.64 and a beta of 0.44. The business's 50 day moving average is $74.73 and its 200-day moving average is $75.17.

Alibaba Group Announces Dividend

The business also recently declared a None dividend, which will be paid on Friday, July 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 22.84%.

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.