Alibaba Group (NYSE:BABA) Trading 3.1% Higher – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) was up 3.1% on Monday . The stock traded as high as $116.90 and last traded at $116.39. Approximately 3,942,476 shares were traded during trading, a decline of 80% from the average daily volume of 19,935,877 shares. The stock had previously closed at $112.87.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BABA shares. Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Morgan Stanley set a $180.00 price target on Alibaba Group in a research report on Wednesday, May 14th. Citigroup decreased their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Benchmark cut their target price on shares of Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $154.21.

Alibaba Group Stock Performance

The firm has a market cap of $277.00 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. The firm’s 50 day moving average is $118.35 and its 200-day moving average is $111.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Alibaba Group in the 4th quarter worth $585,479,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after buying an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after purchasing an additional 3,947,460 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Institutional investors and hedge funds 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.