Alibaba Group (NYSE:BABA) Stock Price Down 1.4% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded down 1.4% during mid-day trading on Thursday . The company traded as low as $113.02 and last traded at $113.38. 13,953,384 shares changed hands during trading, a decline of 30% from the average session volume of 19,969,197 shares. The stock had previously closed at $115.03.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Benchmark cut their price target on Alibaba Group from $190.00 to $176.00 and set a “buy” rating for the company in a report on Friday, May 16th. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Finally, Wall Street Zen upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alibaba Group currently has a consensus rating of “Buy” and a consensus target price of $154.21.

Alibaba Group Stock Down 0.5%

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.48. The firm has a 50 day simple moving average of $119.34 and a 200-day simple moving average of $111.89. The stock has a market capitalization of $269.30 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.47 and a beta of 0.22.

Alibaba Group Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Accent Capital Management LLC raised its stake in Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after acquiring an additional 82 shares in the last quarter. Greenleaf Trust grew its holdings in shares of Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after purchasing an additional 85 shares during the last quarter. Marcum Wealth LLC grew its holdings in shares of Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock worth $363,000 after purchasing an additional 86 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Alibaba Group by 0.5% during the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock worth $2,225,000 after purchasing an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. grew its holdings in shares of Alibaba Group by 1.1% during the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.