Alibaba Group (NYSE:BABA) Stock Price Down 1.3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 1.3% during mid-day trading on Wednesday . The stock traded as low as $115.14 and last traded at $116.4430. 7,037,096 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 12,216,819 shares. The stock had previously closed at $117.97.

Wall Street Analyst Weigh In

BABA has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alibaba Group in a research note on Wednesday, May 27th. Nomura cut their price objective on Alibaba Group from $207.00 to $178.00 and set a “buy” rating for the company in a report on Thursday, June 25th. BNP Paribas Exane began coverage on Alibaba Group in a research note on Wednesday, April 29th. They set an “outperform” rating and a $209.00 target price for the company. Wall Street Zen upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Mizuho raised their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alibaba Group Stock Down 1.3%

The stock has a market cap of $269.97 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.15 and a beta of 0.51. The business has a fifty day moving average of $114.86 and a 200 day moving average of $134.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.28 and a quick ratio of 1.28.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Tuesday, March 31st. The specialty retailer reported $0.01 earnings per share for the quarter. The company had revenue of $35.30 billion during the quarter. Alibaba Group had a return on equity of 4.76% and a net margin of 10.31%. On average, equities analysts predict that Alibaba Group Holding Limited will post 6.28 earnings per share for the current year.

Alibaba Group Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 11th were issued a dividend of $1.05 per share. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend was Thursday, June 11th. Alibaba Group’s dividend payout ratio is currently 16.91%.

Insiders Place Their Bets

In related news, CFO Hong Xu sold 175,054 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $12.15, for a total transaction of $2,126,906.10. Following the completion of the transaction, the chief financial officer owned 280,496 shares of the company’s stock, valued at approximately $3,408,026.40. The trade was a 38.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Fan (Fj) Jiang sold 13,579 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $12.10, for a total transaction of $164,305.90. Following the completion of the sale, the chief executive officer owned 556,617 shares in the company, valued at approximately $6,735,065.70. The trade was a 2.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 920,303 shares of company stock valued at $70,796,370 in the last ninety days. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC increased its position in Alibaba Group by 0.4% during the 4th quarter. Bleakley Financial Group LLC now owns 16,420 shares of the specialty retailer’s stock valued at $2,407,000 after purchasing an additional 67 shares during the period. Highline Wealth Partners LLC boosted its stake in shares of Alibaba Group by 20.7% during the fourth quarter. Highline Wealth Partners LLC now owns 426 shares of the specialty retailer’s stock valued at $62,000 after purchasing an additional 73 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in shares of Alibaba Group by 5.6% during the fourth quarter. Cypress Wealth Services LLC now owns 1,418 shares of the specialty retailer’s stock valued at $208,000 after purchasing an additional 75 shares in the last quarter. Keybank National Association OH raised its stake in Alibaba Group by 2.7% in the fourth quarter. Keybank National Association OH now owns 2,840 shares of the specialty retailer’s stock worth $416,000 after buying an additional 75 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Alibaba Group by 4.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,915 shares of the specialty retailer’s stock worth $281,000 after buying an additional 76 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Company Profile

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.