Shares of Alibaba Group Holding Limited (NYSE:BABA – Get Free Report) were down 0.1% on Thursday . The stock traded as low as $78.61 and last traded at $78.77. Approximately 2,104,509 shares were traded during trading, a decline of 87% from the average daily volume of 16,782,373 shares. The stock had previously closed at $78.85.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research note on Friday, July 26th. Bank of America lifted their target price on shares of Alibaba Group from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Barclays cut their price target on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Mizuho lowered their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. cut their target price on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.19.
Alibaba Group Stock Performance
The firm’s fifty day moving average price is $76.69 and its two-hundred day moving average price is $75.31. The stock has a market capitalization of $197.87 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 0.48 and a beta of 0.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.
Alibaba Group (NYSE:BABA – Get Free Report) last posted its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.13. The firm had revenue of $30.73 billion for the quarter, compared to analysts’ expectations of $30.59 billion. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. As a group, equities research analysts forecast 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 was paid on Friday, July 12th. Stockholders of record on Thursday, June 13th were given a dividend of $1.66 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a dividend yield of 3%. Alibaba Group’s dividend payout ratio (DPR) is 22.84%.
Hedge Funds Weigh In On Alibaba Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Knuff & Co LLC raised its holdings in shares of Alibaba Group by 10.1% during the second quarter. Knuff & Co LLC now owns 45,554 shares of the specialty retailer’s stock valued at $3,280,000 after acquiring an additional 4,190 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Alibaba Group by 3.1% in the 2nd quarter. Natixis Advisors LLC now owns 555,107 shares of the specialty retailer’s stock valued at $39,968,000 after purchasing an additional 16,771 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in Alibaba Group by 3.2% during the 2nd quarter. Waterfront Wealth Inc. now owns 19,348 shares of the specialty retailer’s stock worth $1,393,000 after purchasing an additional 606 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Alibaba Group by 37.1% during the second quarter. Ritholtz Wealth Management now owns 27,780 shares of the specialty retailer’s stock worth $2,000,000 after buying an additional 7,519 shares in the last quarter. Finally, Summit Financial LLC purchased a new position in shares of Alibaba Group in the second quarter worth about $316,000. 13.47% of the stock is owned by hedge funds and other institutional investors.
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.