Alibaba Group (NYSE:BABA) Shares Down 1.1%

Alibaba Group Holding Limited (NYSE:BABA) dropped 1.1% during trading on Tuesday . The company traded as low as $75.44 and last traded at $75.80. Approximately 2,180,593 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 17,100,939 shares. The stock had previously closed at $76.64.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of recent research reports. Citigroup reduced 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. Bank of America raised their price objective on shares of Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Truist Financial cut their price objective on shares of Alibaba Group from $113.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Morgan Stanley restated an “equal weight” rating and set a $85.00 price objective on shares of Alibaba Group in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group Trading Down 0.5 %

The company’s 50 day moving average price is $77.59 and its 200 day moving average price is $75.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $191.33 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.47 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.92 by $0.13. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. The business had revenue of $30.73 billion during the quarter, compared to analyst estimates of $30.59 billion. As a group, analysts forecast that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Friday, July 12th. Stockholders of record on Thursday, June 13th were paid a $1.66 dividend. This represents a dividend yield of 3%. The ex-dividend date was Thursday, June 13th. Alibaba Group’s payout ratio is 22.84%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BABA. Baystate Wealth Management LLC raised its holdings in Alibaba Group by 184.6% in the fourth quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 216 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $26,000. GPS Wealth Strategies Group LLC raised its holdings in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the first quarter valued at approximately $31,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $32,000. 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.