Alibaba Group Holding Ltd (NYSE:BABA) is Harvey Capital Management Inc.’s Largest Position

Harvey Capital Management Inc. lowered its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,520 shares of the specialty retailer’s stock after selling 550 shares during the quarter. Alibaba Group comprises approximately 5.8% of Harvey Capital Management Inc.’s portfolio, making the stock its biggest position. Harvey Capital Management Inc.’s holdings in Alibaba Group were worth $12,119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BABA. Farmers National Bank bought a new position in shares of Alibaba Group during the first quarter valued at $25,000. Cribstone Capital Management LLC bought a new position in shares of Alibaba Group during the first quarter valued at $27,000. Manchester Capital Management LLC increased its holdings in shares of Alibaba Group by 171.4% during the first quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Alibaba Group during the first quarter valued at $34,000. Finally, Motco increased its holdings in shares of Alibaba Group by 1,557.1% during the first quarter. Motco now owns 232 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 218 shares in the last quarter. 40.77% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the company. UBS Group set a $210.00 price objective on Alibaba Group and gave the stock a “buy” rating in a report on Tuesday, June 11th. TH Capital lifted their price objective on NetEase from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $220.00 price objective on shares of Alibaba Group in a report on Friday, May 24th. Zacks Investment Research downgraded HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Finally, KeyCorp lifted their price objective on KLA-Tencor from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $217.70.

Shares of Alibaba Group stock traded down $2.83 during trading hours on Tuesday, reaching $174.19. 8,493,636 shares of the stock traded hands, compared to its average volume of 15,613,715. The business’s 50 day moving average is $169.91. The company has a market capitalization of $454.79 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 1.30 and a beta of 2.30. Alibaba Group Holding Ltd has a one year low of $129.77 and a one year high of $195.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.18.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $7.82. The business had revenue of $93.50 billion during the quarter, compared to the consensus estimate of $91.68 billion. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The business’s quarterly revenue was up 51.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.73 EPS. On average, sell-side analysts expect that Alibaba Group Holding Ltd will post 5.12 EPS for the current year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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