Alibaba Group (NYSE:BABA) Trading 1.6% Higher – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 1.6% during trading on Monday . The company traded as high as $121.46 and last traded at $121.27. 2,660,207 shares traded hands during trading, a decline of 87% from the average session volume of 19,978,482 shares. The stock had previously closed at $119.38.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BABA. JPMorgan Chase & Co. upped their target price on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup dropped their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Robert W. Baird decreased their target price on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Finally, Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $154.21.

Alibaba Group Price Performance

The company’s 50 day moving average price is $118.11 and its 200-day moving average price is $110.11. The stock has a market cap of $291.23 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.61 and a beta of 0.22. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

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 issued a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s dividend payout ratio is currently 13.83%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the first quarter valued at about $26,000. Summit Securities Group LLC increased its stake in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new position in Alibaba Group during the first quarter valued at $26,000. Hazlett Burt & Watson Inc. grew its holdings in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares during the period. Finally, Inlight Wealth Management LLC purchased a new stake in Alibaba Group in the first quarter worth about $31,000. Hedge funds and other institutional investors 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.