Alibaba Group (NYSE:BABA) Stock Price Up 8.1% Following Dividend Announcement

Alibaba Group Holding Limited (NYSE:BABAGet Free Report)’s stock price was up 8.1% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $146.87 and last traded at $145.6940. Approximately 39,242,247 shares traded hands during trading, an increase of 231% from the average daily volume of 11,852,051 shares. The stock had previously closed at $134.78.

The newly announced dividend which will be paid on Monday, July 13th. Investors of record on Thursday, June 11th will be issued a dividend of $1.05 per share. This represents a yield of 72.0%. The ex-dividend date is Thursday, June 11th. Alibaba Group’s dividend payout ratio is presently 17.92%.

Analyst Ratings Changes

Several brokerages recently commented on BABA. Susquehanna cut their price target on shares of Alibaba Group from $190.00 to $170.00 and set a “positive” rating on the stock in a report on Thursday, March 26th. JPMorgan Chase & Co. cut their price target on shares of Alibaba Group from $215.00 to $205.00 and set an “overweight” rating on the stock in a report on Friday, March 20th. Mizuho cut their price target on shares of Alibaba Group from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. DZ Bank downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating and set a $135.00 price target on the stock. in a report on Friday, March 20th. Finally, Argus upgraded shares of Alibaba Group to a “hold” rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.75.

View Our Latest Analysis on Alibaba Group

Alibaba Group Stock Performance

The company has a market capitalization of $349.53 billion, a PE ratio of 27.49, a PEG ratio of 2.37 and a beta of 0.50. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $131.47 and its 200-day simple moving average is $149.91.

Alibaba Group (NYSE:BABAGet Free Report) last released its quarterly earnings data on Tuesday, March 31st. The specialty retailer reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $35.30 billion during the quarter. Alibaba Group had a net margin of 9.12% and a return on equity of 7.43%. On average, research analysts predict that Alibaba Group Holding Limited will post 4.32 earnings per share for the current year.

Key Headlines Impacting Alibaba Group

Here are the key news stories impacting Alibaba Group this week:

Institutional Investors Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in BABA. Ameriflex Group Inc. boosted its position in Alibaba Group by 101.4% in the 3rd quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 72 shares during the period. Hoey Investments Inc. boosted its position in Alibaba Group by 95.2% in the 1st quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 100 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $30,000. NBT Bank N A NY lifted its position in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 125 shares during the period. Finally, Costello Asset Management INC purchased a new stake in shares of Alibaba Group in the 4th quarter worth approximately $34,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Company Profile

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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