Citigroup Cuts Alibaba Group (NYSE:BABA) Price Target to $122.00

Alibaba Group (NYSE:BABA) had its target price reduced by Citigroup from $124.00 to $122.00 in a research report released on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the specialty retailer’s stock.

BABA has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an overweight rating on the stock in a research note on Tuesday, April 9th. The Goldman Sachs Group dropped their price target on Alibaba Group from $121.00 to $105.00 and set a buy rating for the company in a research report on Thursday, February 8th. Macquarie lowered Alibaba Group from an outperform rating to a neutral rating and decreased their price objective for the company from $88.50 to $85.40 in a research note on Thursday, February 8th. Robert W. Baird reduced their target price on shares of Alibaba Group from $95.00 to $90.00 and set an outperform rating on the stock in a report on Friday, January 19th. Finally, Mizuho reduced their target price on shares of Alibaba Group from $95.00 to $92.00 and set a buy rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $109.96.

Alibaba Group Stock Performance

Shares of Alibaba Group stock traded up $5.80 on Wednesday, reaching $86.79. 32,442,608 shares of the stock were exchanged, compared to its average volume of 18,234,240. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group has a 1-year low of $66.63 and a 1-year high of $102.50. The firm has a market capitalization of $220.23 billion, a PE ratio of 15.94 and a beta of 0.44. The business has a fifty day moving average price of $74.44 and a two-hundred day moving average price of $75.09.

Alibaba Group Announces Dividend

The business also recently announced a None dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 13th will be paid a dividend of $1.66 per share. The ex-dividend date is Thursday, June 13th. Alibaba Group’s dividend payout ratio (DPR) is currently 18.08%.

Institutional Trading of Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in BABA. Morgan Stanley increased its holdings in shares of Alibaba Group by 13.8% during the 3rd quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after acquiring an additional 1,406,491 shares during the last quarter. Sanders Capital LLC grew its holdings in Alibaba Group by 322.7% during the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after purchasing an additional 11,473,618 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Alibaba Group by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer’s stock worth $76,951,000 after buying an additional 21,228 shares during the last quarter. Cerity Partners LLC raised its holdings in Alibaba Group by 299.9% in the 4th quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer’s stock worth $6,428,000 after acquiring an additional 62,163 shares during the period. Finally, Certuity LLC boosted its holdings in Alibaba Group by 122.2% during the third quarter. Certuity LLC now owns 113,704 shares of the specialty retailer’s stock valued at $9,863,000 after acquiring an additional 62,543 shares during the period. 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.