Alibaba Group (NYSE:BABA) Shares Down 2%

Alibaba Group Holding Limited (NYSE:BABAGet Free Report)’s share price was down 2% during mid-day trading on Friday . The stock traded as low as $73.61 and last traded at $74.05. Approximately 7,056,638 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 17,564,313 shares. The stock had previously closed at $75.57.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $85.00 price target on shares of Alibaba Group in a research report on Tuesday, April 9th. Truist Financial cut their price target 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 lowered their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Loop Capital increased their price objective on shares of Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Mizuho cut their target price on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $108.79.

View Our Latest Report on BABA

Alibaba Group Price Performance

The stock has a 50 day moving average of $78.29 and a 200-day moving average of $75.03. The stock has a market capitalization of $189.09 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 0.47 and a beta of 0.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABAGet Free Report) last released its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.13. The business had revenue of $30.73 billion during the quarter, compared to the consensus estimate of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Dividend Announcement

The company 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. This represents a dividend yield of 3%. The ex-dividend date is Thursday, June 13th. Alibaba Group’s payout ratio is 22.84%.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Alibaba Group by 15.7% in the third quarter. The Manufacturers Life Insurance Company now owns 198,843 shares of the specialty retailer’s stock worth $17,248,000 after purchasing an additional 26,922 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Alibaba Group by 17.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 34,020 shares of the specialty retailer’s stock valued at $2,951,000 after acquiring an additional 4,952 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Alibaba Group by 9.0% in the third quarter. Penserra Capital Management LLC now owns 29,497 shares of the specialty retailer’s stock valued at $2,558,000 after acquiring an additional 2,424 shares in 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 worth $1,007,058,000 after purchasing an additional 1,406,491 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Alibaba Group by 16.2% during the third quarter. Harbour Investments Inc. now owns 3,695 shares of the specialty retailer’s stock worth $321,000 after purchasing an additional 516 shares in 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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