Alibaba Group (NYSE:BABA) Stock Price Up 0.6%

Alibaba Group Holding Limited (NYSE:BABA)’s stock price rose 0.6% during mid-day trading on Wednesday . The company traded as high as $77.06 and last traded at $76.58. Approximately 2,681,286 shares changed hands during trading, a decline of 84% from the average daily volume of 17,039,922 shares. The stock had previously closed at $76.10.

Wall Street Analyst Weigh In

BABA has been the topic of a number of analyst reports. Mizuho decreased their price objective on Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. JPMorgan Chase & Co. decreased their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Benchmark reiterated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 15th. Loop Capital boosted their price objective on Alibaba Group from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Truist Financial decreased their target price on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.79.

Alibaba Group Price Performance

The business has a fifty day moving average price of $77.36 and a 200-day moving average price of $75.13. 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 stock has a market capitalization of $191.33 billion, a PE ratio of 17.58, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The firm had revenue of $30.73 billion during the quarter, compared to analysts’ expectations of $30.59 billion. Research analysts expect that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Friday, July 12th. Stockholders of record on Thursday, June 13th were issued 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 currently 22.84%.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors have recently bought and sold shares of BABA. Norges Bank purchased a new stake in Alibaba Group during the 4th quarter valued at about $329,367,000. Blue Pool Management Ltd. purchased a new stake in Alibaba Group during the 4th quarter valued at about $151,726,000. H&H International Investment LLC boosted its holdings in Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares during the period. Ruffer LLP boosted its holdings in Alibaba Group by 139.2% during the 4th quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock valued at $243,430,000 after acquiring an additional 1,828,019 shares during the period. Finally, AMF Tjanstepension AB boosted its holdings in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after acquiring an additional 1,156,479 shares during the period. 13.47% of the stock is currently 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.