Alibaba Group Holding Limited (NYSE:BABA) Given Average Rating of “Buy” by Brokerages

Alibaba Group Holding Limited (NYSE:BABA) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Fourteen investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $154.21.

Several research firms have recently issued reports on BABA. Mizuho decreased their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Robert W. Baird decreased their target price on shares of Alibaba Group from $147.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Bank of America lifted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Finally, Barclays upped their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in the stock. 1248 Management LLC purchased a new position in Alibaba Group during the first quarter worth $26,000. North Ridge Wealth Advisors Inc. bought a new stake in shares of Alibaba Group in the first quarter valued at about $26,000. Summit Securities Group LLC raised its holdings in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new position in Alibaba Group in the first quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. raised its holdings in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 196 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

BABA opened at $120.30 on Thursday. The firm has a market cap of $287.04 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 0.61 and a beta of 0.22. Alibaba Group has a fifty-two week low of $71.80 and a fifty-two week high of $148.43. The company’s 50-day moving average price is $117.87 and its 200 day moving average price is $110.53. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The company also recently announced a — dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.95 per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, June 12th. Alibaba Group’s payout ratio is 13.83%.

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.