Alibaba Group (NYSE:BABA) Given New $110.00 Price Target at Morgan Stanley

Alibaba Group (NYSE:BABA) had its target price reduced by Morgan Stanley from $150.00 to $110.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the specialty retailer’s stock.

Several other research analysts have also recently commented on BABA. Truist Financial lowered their price target on shares of Alibaba Group from $135.00 to $126.00 and set a buy rating for the company in a report on Tuesday, October 31st. UBS Group restated a buy rating and issued a $127.00 price target (up from $120.00) on shares of Alibaba Group in a research note on Wednesday, November 1st. StockNews.com initiated coverage on Alibaba Group in a report on Thursday, October 5th. They set a buy rating for the company. Benchmark reissued a buy rating and set a $180.00 target price on shares of Alibaba Group in a research report on Tuesday, October 10th. Finally, Sanford C. Bernstein upped their price target on Alibaba Group from $98.00 to $100.00 and gave the company a market perform rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $131.20.

Alibaba Group Stock Performance

Shares of BABA stock opened at $78.45 on Friday. The firm has a 50 day moving average of $84.34 and a two-hundred day moving average of $87.64. The stock has a market capitalization of $201.28 billion, a PE ratio of 16.87 and a beta of 0.67. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. Alibaba Group has a 52 week low of $74.58 and a 52 week high of $121.30.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, November 16th. The specialty retailer reported $15.63 earnings per share for the quarter, topping the consensus estimate of $15.28 by $0.35. Alibaba Group had a return on equity of 12.55% and a net margin of 9.45%. The company had revenue of $224.79 billion for the quarter, compared to the consensus estimate of $224.48 billion. During the same quarter in the prior year, the business earned $1.50 EPS. Alibaba Group’s revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Alibaba Group will post 7.99 EPS for the current fiscal year.

Alibaba Group Announces Dividend

The firm also recently announced a — dividend, which will be paid on Thursday, January 18th. Stockholders of record on Thursday, December 21st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC purchased a new stake in Alibaba Group in the 3rd quarter valued at approximately $26,000. Brown Shipley& Co Ltd grew its holdings in Alibaba Group by 3.2% during the second quarter. Brown Shipley& Co Ltd now owns 6,565 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 202 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in Alibaba Group in the third quarter worth $27,000. GPS Wealth Strategies Group LLC raised its position in Alibaba Group by 116.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 325 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in Alibaba Group in the third quarter valued at $30,000. Institutional investors and hedge funds own 14.22% 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.