Top 5 Gainers Today

2. JD.com, Inc. (NASDAQ:JD) is up 4.62% as of 12:19 PM ET after the Chinese e-commerce company announced that it is considering giving out a special dividend on or around May 4. This development has surprised the shareholders and has been positively welcomed by Alicia Yap at Citi. The analyst has given a price target of $97 with a Buy rating on JD.com, Inc. (NASDAQ:JD) stock, highlighting that the special dividend is both ‘surprising and positive.’ Furthermore, it also reflects that JD.com, Inc. (NASDAQ:JD) has the potential to generate cash flows.

The company also increased its share repurchase plan from $2 billion to $3 billion. It could execute another share buyback plan of $2.2 billion. However, the analyst thinks that giving value to the shareholders through share repurchase is more challenging compared to a special dividend, especially during a challenging macro environment.

Out of the 924 hedge funds being tracked by Insider Monkey, JD.com, Inc. (NASDAQ:JD) was held by 67 hedge funds as of Q4 2021.