Alibaba Group (NYSE:BABA) Shares Down 0.7% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $86.18 and last traded at $86.54. Approximately 2,658,307 shares were traded during trading, a decline of 85% from the average daily volume of 17,373,336 shares. The stock had previously closed at $87.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BABA shares. Bank of America upped their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Macquarie raised shares of Alibaba Group from a "neutral" rating to an "outperform" rating and set a $145.00 price target on the stock in a report on Monday, October 7th. Loop Capital restated a "buy" rating and set a $115.00 price target on shares of Alibaba Group in a research note on Thursday, August 29th. Barclays lowered their price objective on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 19th. Finally, Mizuho increased their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.07.

Alibaba Group Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $203.13 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.44 and a beta of 0.30. The business has a fifty day simple moving average of $93.74 and a 200 day simple moving average of $86.50.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 EPS. As a group, equities analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently modified their holdings of the business. First Command Advisory Services Inc. bought a new position in Alibaba Group during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the second quarter worth approximately $27,000. Concord Wealth Partners raised its position in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock valued at $27,000 after buying an additional 155 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $36,000. Finally, Asset Dedication LLC increased its stake in shares of Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer's stock valued at $38,000 after buying an additional 400 shares during the period. 13.47% of the stock is owned by institutional investors.

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.