Alibaba Group (NYSE:BABA) Stock Price Up 2.4%

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price shot up 2.4% during trading on Wednesday . The stock traded as high as $75.46 and last traded at $75.46. 5,359,238 shares changed hands during trading, a decline of 70% from the average session volume of 17,599,303 shares. The stock had previously closed at $73.68.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BABA shares. Bank of America boosted their target price on Alibaba Group from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, May 16th. Barclays decreased their target price on shares of Alibaba Group from $109.00 to $107.00 and set an "overweight" rating for the company in a research note on Thursday, May 16th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $85.00 price objective on shares of Alibaba Group in a report on Tuesday, April 9th. Truist Financial lowered their target price on Alibaba Group from $113.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, May 15th. Finally, Benchmark reaffirmed a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $108.79.

Alibaba Group Price Performance

The stock has a 50 day simple moving average of $78.29 and a 200-day simple moving average of $75.02. The firm has a market cap of $191.81 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.44 and a beta of 0.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.13.

Alibaba Group (NYSE:BABA - Get Free Report) last released its earnings results on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The firm had revenue of $30.73 billion during the quarter, compared to analysts' expectations of $30.59 billion. Equities analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Alibaba Group Announces Dividend

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

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley grew its holdings in shares of Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock valued at $1,007,058,000 after purchasing an additional 1,406,491 shares in the last quarter. Fiduciary Alliance LLC grew its stake in shares of Alibaba Group by 154.1% in the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer's stock worth $4,052,000 after buying an additional 33,490 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Alibaba Group by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer's stock valued at $76,951,000 after buying an additional 21,228 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Alibaba Group by 299.9% in the 4th quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer's stock valued at $6,428,000 after acquiring an additional 62,163 shares during the last quarter. Finally, Ramirez Asset Management Inc. purchased a new position in Alibaba Group in the third quarter worth about $7,836,000. 13.47% of the stock is currently owned by institutional investors.

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.