Alibaba Group (NYSE:BABA) Shares Up 0.3%

Alibaba Group Holding Limited (NYSE:BABAGet Free Report)’s stock price was up 0.3% during trading on Tuesday . The stock traded as high as $72.80 and last traded at $72.42. Approximately 3,704,828 shares changed hands during trading, a decline of 79% from the average daily volume of 17,623,389 shares. The stock had previously closed at $72.18.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research analyst reports. Truist Financial dropped their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Barclays cut their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Citigroup cut their target price on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, May 15th. Finally, Bank of America lifted their price objective on Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

Check Out Our Latest Analysis on Alibaba Group

Alibaba Group Stock Performance

The stock’s 50 day simple moving average is $78.29 and its two-hundred day simple moving average is $75.02. The company has a market cap of $191.81 billion, a PE ratio of 17.62, a P/E/G ratio of 0.45 and a beta of 0.33. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABAGet Free Report) last issued its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. The firm had revenue of $30.73 billion for the quarter, compared to analysts’ expectations of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current year.

Alibaba Group Announces Dividend

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

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in shares of Alibaba Group by 1.9% in the third quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock worth $2,085,000 after buying an additional 446 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Alibaba Group by 64.3% in the 3rd quarter. Bank of Nova Scotia now owns 4,230 shares of the specialty retailer’s stock valued at $367,000 after purchasing an additional 1,655 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Alibaba Group during the third quarter worth about $2,022,000. Alps Advisors Inc. grew its stake in Alibaba Group by 31.2% in the third quarter. Alps Advisors Inc. now owns 18,771 shares of the specialty retailer’s stock worth $1,628,000 after purchasing an additional 4,468 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Alibaba Group by 3.6% in the third quarter. Evergreen Capital Management LLC now owns 5,943 shares of the specialty retailer’s stock valued at $515,000 after buying an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

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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.

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