Alibaba Group (NYSE:BABA) Trading Down 1.8% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) shares fell 1.8% during mid-day trading on Friday . The stock traded as low as $107.95 and last traded at $108.67. 11,847,157 shares were traded during trading, a decline of 41% from the average session volume of 19,972,500 shares. The stock had previously closed at $110.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Citigroup dropped their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Arete Research downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.13.

Alibaba Group Trading Down 1.8%

The firm has a market cap of $259.31 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.47 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 1.55. The firm’s fifty day moving average is $119.19 and its 200-day moving average is $113.82.

Alibaba Group Cuts Dividend

The company also recently announced a — dividend, which will be paid on Thursday, July 10th. Investors of record on Thursday, June 12th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a yield of 0.8%. Alibaba Group’s payout ratio is 13.83%.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently made changes to their positions in the stock. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC raised its holdings in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds 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.