Truist Financial Cuts Alibaba Group (NYSE:BABA) Price Target to $110.00

Alibaba Group (NYSE:BABA) had its price objective lowered by Truist Financial from $113.00 to $110.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the specialty retailer’s stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an overweight rating on the stock in a research report on Tuesday, April 9th. Mizuho reduced their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a buy rating for the company in a research note on Wednesday. Susquehanna lowered their target price on shares of Alibaba Group from $150.00 to $135.00 and set a positive rating on the stock in a research report on Thursday, February 8th. Citigroup reduced 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, StockNews.com upgraded Alibaba Group from a hold rating to a buy rating in a research note on Tuesday, February 27th. 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.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $109.96.

Alibaba Group Stock Performance

Shares of BABA stock opened at $88.54 on Wednesday. Alibaba Group has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The stock’s 50-day moving average is $75.03 and its two-hundred day moving average is $75.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.80. The firm has a market cap of $224.67 billion, a P/E ratio of 20.64 and a beta of 0.44.

Alibaba Group Dividend Announcement

The business also recently announced a None dividend, which will be paid on Friday, July 12th. Investors of record on Thursday, June 13th will be paid a dividend of $1.66 per share. This represents a yield of 3%. The ex-dividend date of this dividend is Thursday, June 13th. Alibaba Group’s payout ratio is currently 22.84%.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently made changes to their positions in the stock. Baystate Wealth Management LLC increased its holdings in Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 216 shares during the period. EdgeRock Capital LLC bought a new stake in Alibaba Group in the fourth quarter valued at about $26,000. First Command Advisory Services Inc. bought a new stake in Alibaba Group in the third quarter valued at about $30,000. Milestone Investment Advisors LLC acquired a new position in Alibaba Group in the third quarter worth about $31,000. Finally, Anchor Investment Management LLC bought a new position in Alibaba Group during the fourth quarter worth about $31,000. Institutional investors 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.