Baker Avenue Asset Management LP Makes New Investment in JD.com, Inc. (NASDAQ:JD)

Baker Avenue Asset Management LP bought a new position in shares of JD.com, Inc. (NASDAQ:JD) during the 4th quarter, Holdings Channel reports. The fund bought 59,958 shares of the information services provider’s stock, valued at approximately $2,079,000.

Several other institutional investors also recently made changes to their positions in JD. Banque Transatlantique SA acquired a new stake in shares of JD.com in the 4th quarter worth approximately $135,000. Bank of America Corp DE boosted its position in JD.com by 63.3% during the fourth quarter. Bank of America Corp DE now owns 2,420,595 shares of the information services provider’s stock worth $83,922,000 after purchasing an additional 938,036 shares in the last quarter. Aspex Management HK Ltd acquired a new stake in JD.com in the fourth quarter valued at $93,562,000. AXA S.A. increased its position in shares of JD.com by 27.1% in the fourth quarter. AXA S.A. now owns 285,988 shares of the information services provider’s stock valued at $9,915,000 after buying an additional 61,020 shares in the last quarter. Finally, Alden Global Capital LLC raised its stake in shares of JD.com by 49.5% during the 4th quarter. Alden Global Capital LLC now owns 156,637 shares of the information services provider’s stock worth $5,431,000 after buying an additional 51,892 shares during the last quarter. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

JD.com Stock Up 4.9 %

Shares of NASDAQ:JD opened at $34.47 on Monday. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.31 and a beta of 0.56. The stock’s 50-day moving average price is $38.60 and its two-hundred day moving average price is $38.18. JD.com, Inc. has a 12-month low of $24.13 and a 12-month high of $47.82.

JD.com Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th were issued a $0.76 dividend. This represents a yield of 1.7%. This is an increase from JD.com’s previous annual dividend of $0.74. The ex-dividend date of this dividend was Tuesday, April 8th. JD.com’s payout ratio is presently 26.13%.

Analysts Set New Price Targets

Several equities analysts have weighed in on JD shares. Benchmark raised their target price on shares of JD.com from $47.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 7th. Barclays raised their price objective on shares of JD.com from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of JD.com in a research note on Friday, March 7th. UBS Group set a $51.00 price target on JD.com in a research report on Friday, March 7th. Finally, Dbs Bank upgraded JD.com to a “strong-buy” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.27.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.