Alibaba Group (NYSE:BABA) Downgraded by Arete to Neutral

Arete downgraded shares of Alibaba Group (NYSE:BABA) from a buy rating to a neutral rating in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has $153.00 price target on the specialty retailer’s stock.

Several other analysts also recently commented on the stock. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Robert W. Baird decreased their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Finally, Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group currently has an average rating of “Buy” and a consensus target price of $154.13.

Alibaba Group Stock Up 3.4%

Shares of NYSE:BABA opened at $116.95 on Tuesday. The stock’s 50-day moving average is $119.41 and its 200 day moving average is $112.49. The company has a market cap of $278.91 billion, a PE ratio of 15.70, a P/E/G ratio of 0.46 and a beta of 0.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. Alibaba Group has a 1 year low of $71.80 and a 1 year high of $148.43.

Alibaba Group Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s dividend payout ratio (DPR) is currently 13.83%.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently added to or reduced their stakes in the stock. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC boosted its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in Alibaba Group in the 1st quarter valued at about $26,000. 1248 Management LLC purchased a new stake in Alibaba Group during the first quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

About Alibaba Group

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.