Summit Global Investments Purchases 7,405 Shares of JD.com, Inc. (NASDAQ:JD)

Summit Global Investments raised its position in JD.com, Inc. (NASDAQ:JD) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,922 shares of the information services provider’s stock after buying an additional 7,405 shares during the quarter. Summit Global Investments’ holdings in JD.com were worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of JD.com by 41.0% during the 3rd quarter. FMR LLC now owns 15,276,992 shares of the information services provider’s stock valued at $611,080,000 after purchasing an additional 4,445,277 shares during the period. Appaloosa LP raised its stake in shares of JD.com by 43.4% during the 4th quarter. Appaloosa LP now owns 10,465,885 shares of the information services provider’s stock valued at $362,852,000 after purchasing an additional 3,165,885 shares during the period. Two Sigma Advisers LP raised its stake in shares of JD.com by 329.9% during the 3rd quarter. Two Sigma Advisers LP now owns 6,306,700 shares of the information services provider’s stock valued at $252,268,000 after purchasing an additional 4,839,700 shares during the period. Fisher Asset Management LLC raised its stake in shares of JD.com by 9.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,072,599 shares of the information services provider’s stock valued at $162,904,000 after purchasing an additional 336,740 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in shares of JD.com by 117.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,033,900 shares of the information services provider’s stock valued at $161,356,000 after purchasing an additional 2,175,568 shares during the period. 15.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JD has been the topic of a number of analyst reports. UBS Group set a $51.00 price objective on JD.com in a research note on Friday, March 7th. Sanford C. Bernstein restated an “outperform” rating on shares of JD.com in a research report on Friday, March 7th. Dbs Bank upgraded JD.com to a “strong-buy” rating in a research report on Wednesday, February 12th. StockNews.com cut JD.com from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Finally, Mizuho boosted their target price on JD.com from $43.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.64.

JD.com Price Performance

JD opened at $42.24 on Friday. The stock has a 50-day moving average price of $40.60 and a 200-day moving average price of $37.91. JD.com, Inc. has a 12-month low of $24.13 and a 12-month high of $47.82. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $66.62 billion, a P/E ratio of 13.37, a PEG ratio of 0.31 and a beta of 0.43.

JD.com Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, April 29th. Investors of record on Tuesday, April 8th will be issued a dividend of $0.76 per share. The ex-dividend date is Tuesday, April 8th. This is a boost from JD.com’s previous annual dividend of $0.74. This represents a yield of 1.7%. JD.com’s dividend payout ratio is currently 26.13%.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.