Alibaba Group Holding Limited (NYSE:BABA – Get Free Report)’s share price shot up 2.6% during trading on Thursday . The company traded as high as $75.81 and last traded at $75.57. 11,768,517 shares were traded during mid-day trading, an increase of 0% from the average session volume of 11,737,178 shares. The stock had previously closed at $73.68.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Mizuho lowered their target price on Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Wednesday, May 15th. Morgan Stanley reissued an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research note on Tuesday, April 9th. JPMorgan Chase & Co. dropped 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. Finally, Truist Financial decreased their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $108.79.
Alibaba Group Price Performance
The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $191.76 billion, a P/E ratio of 17.62, a P/E/G ratio of 0.45 and a beta of 0.33. The company has a 50 day moving average of $78.31 and a 200-day moving average of $75.02.
Alibaba Group (NYSE:BABA – Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $30.59 billion. On average, sell-side analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current year.
Alibaba Group Announces Dividend
The firm also recently announced a None dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 13th will be issued a dividend of $1.66 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s dividend payout ratio is presently 22.84%.
Institutional Investors Weigh In On Alibaba Group
A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Alibaba Group by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 24,034 shares of the specialty retailer’s stock worth $2,085,000 after acquiring an additional 446 shares during the period. Bank of Nova Scotia raised its position in Alibaba Group by 64.3% during the third quarter. Bank of Nova Scotia now owns 4,230 shares of the specialty retailer’s stock valued at $367,000 after purchasing an additional 1,655 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Alibaba Group during the third quarter worth $2,022,000. Alps Advisors Inc. boosted its holdings in shares of Alibaba Group by 31.2% in the 3rd quarter. Alps Advisors Inc. now owns 18,771 shares of the specialty retailer’s stock valued at $1,628,000 after purchasing an additional 4,468 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Alibaba Group by 3.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 5,943 shares of the specialty retailer’s stock valued at $515,000 after purchasing an additional 205 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.