Alibaba Group (NYSE:BABA) Stock Price Down 2.6%

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares dropped 2.6% during trading on Friday . The stock traded as low as $73.66 and last traded at $73.74. Approximately 5,798,792 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 18,131,318 shares. The stock had previously closed at $75.68.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 9th. Truist Financial cut their price target on shares of Alibaba Group from $113.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, May 15th. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a report on Tuesday, February 27th. Morgan Stanley reissued an "equal weight" rating and issued a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Finally, Bank of America raised their price objective on shares of Alibaba Group from $99.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $108.79.

Alibaba Group Stock Performance

The company has a market cap of $186.14 billion, a PE ratio of 17.19, a PEG ratio of 0.48 and a beta of 0.38. The business's 50-day moving average is $77.68 and its 200 day moving average is $74.97. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.79 and a current ratio of 1.79.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $30.73 billion for the quarter, compared to analyst estimates of $30.59 billion. Alibaba Group had a net margin of 8.44% and a return on equity of 12.70%. On average, equities research analysts predict that Alibaba Group Holding Limited will post 6.96 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The company also recently declared a None dividend, which will be paid on Friday, July 12th. Shareholders of record on Thursday, June 13th will be issued a $1.66 dividend. This represents a 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 Investors Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of the stock. Johnson Investment Counsel Inc. boosted its stake in shares of Alibaba Group by 2.1% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 6,727 shares of the specialty retailer's stock valued at $584,000 after purchasing an additional 136 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Alibaba Group by 32.9% during the third quarter. Clearstead Advisors LLC now owns 573 shares of the specialty retailer's stock valued at $50,000 after acquiring an additional 142 shares in the last quarter. Bogart Wealth LLC raised its holdings in Alibaba Group by 16.7% in the 1st quarter. Bogart Wealth LLC now owns 990 shares of the specialty retailer's stock worth $72,000 after acquiring an additional 142 shares during the last quarter. Legacy Advisors LLC raised its holdings in Alibaba Group by 1.4% in the 4th 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. Finally, North Star Investment Management Corp. raised its holdings in Alibaba Group by 11.2% in the 1st 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. Institutional investors own 13.47% of the company's stock.

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.