Alibaba Group (NYSE:BABA) Trading 0.5% Higher

Alibaba Group Holding Limited (NYSE:BABA) traded up 0.5% on Wednesday . The stock traded as high as $74.28 and last traded at $74.18. 2,640,433 shares changed hands during trading, a decline of 85% from the average session volume of 17,877,031 shares. The stock had previously closed at $73.79.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Citigroup dropped their price target on Alibaba Group from $124.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, May 15th. Bank of America increased their price objective on Alibaba Group from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Truist Financial decreased their price objective 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.79.

Alibaba Group Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $187.78 billion, a PE ratio of 17.28, a P/E/G ratio of 0.46 and a beta of 0.38. The firm has a fifty day simple moving average of $78.00 and a 200-day simple moving average of $75.00.

Alibaba Group (NYSE:BABA) last issued 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 business had revenue of $30.73 billion during the quarter, compared to analyst estimates of $30.59 billion. Equities research analysts anticipate that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The company also recently announced a None dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 13th will be given a $1.66 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a yield of 3%. Alibaba Group’s dividend payout ratio (DPR) is 22.84%.

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in shares of Alibaba Group by 16.7% in the first quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 142 shares in the last quarter. Legacy Advisors LLC increased its stake in shares of Alibaba Group by 1.4% in the fourth quarter. Legacy Advisors LLC now owns 10,658 shares of the specialty retailer’s stock worth $826,000 after acquiring an additional 145 shares during the last quarter. North Star Investment Management Corp. increased its stake in shares of Alibaba Group by 11.2% in the first quarter. North Star Investment Management Corp. now owns 1,533 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 154 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Alibaba Group by 2.5% in the fourth quarter. Hexagon Capital Partners LLC now owns 6,664 shares of the specialty retailer’s stock worth $517,000 after acquiring an additional 164 shares during the last quarter. Finally, WNY Asset Management LLC increased its stake in shares of Alibaba Group by 2.8% in the first quarter. WNY Asset Management LLC now owns 6,022 shares of the specialty retailer’s stock worth $436,000 after acquiring an additional 164 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.