Alibaba Group (NYSE:BABA) Trading Up 2.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shot up 2.7% during mid-day trading on Tuesday . The company traded as high as $115.62 and last traded at $116.10. 4,473,063 shares traded hands during trading, a decline of 78% from the average session volume of 19,930,638 shares. The stock had previously closed at $113.09.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BABA. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Arete downgraded shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 price target on the stock. in a report on Tuesday. Robert W. Baird lowered their price target 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. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Finally, Mizuho lowered their price target on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $154.13.

Alibaba Group Price Performance

The stock’s 50-day moving average price is $119.32 and its 200 day moving average price is $112.46. The firm has a market capitalization of $278.86 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.46 and a beta of 0.22. The company has a quick ratio of 1.48, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th will be given a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s dividend payout ratio (DPR) is 13.83%.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of BABA. Norges Bank acquired a new stake in Alibaba Group during the fourth quarter worth about $585,479,000. Mirae Asset Global Investments Co. Ltd. increased its position in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after acquiring an additional 2,584,480 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.