Neuburgh Advisers LLC cut its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,182 shares of the specialty retailer’s stock after selling 1,054 shares during the quarter. Neuburgh Advisers LLC’s holdings in Alibaba Group were worth $709,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Farmers National Bank purchased a new stake in Alibaba Group during the 1st quarter valued at about $25,000. Manchester Capital Management LLC boosted its stake 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 purchasing an additional 96 shares during the period. Lee Financial Co boosted its stake in shares of Alibaba Group by 194.6% during the second quarter. Lee Financial Co now owns 165 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 109 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in shares of Alibaba Group by 100.0% in the second quarter. Farmers & Merchants Investments Inc. now owns 200 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastal Capital Group Inc. bought a new position in shares of Alibaba Group in the second quarter worth approximately $34,000. 44.23% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and set a $220.00 price target (up from $205.00) on shares of Alibaba Group in a report on Thursday, May 16th. Loop Capital assumed coverage on shares of Alibaba Group in a report on Monday, June 3rd. They issued a “buy” rating and a $250.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Alibaba Group from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays increased their target price on shares of Alibaba Group from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, KeyCorp raised their target price on Alibaba Group from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. One equities 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 company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $219.92.
Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.32. The firm had revenue of $114.92 billion for the quarter, compared to the consensus estimate of $111.65 billion. Alibaba Group had a net margin of 24.40% and a return on equity of 14.36%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. As a group, analysts predict that Alibaba Group Holding Ltd will post 5.81 earnings per share for the current year.
About Alibaba Group
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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