Harvest Fund Management Co. Ltd Has $9.53 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 47.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 72,057 shares of the specialty retailer’s stock after selling 65,789 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Alibaba Group were worth $9,527,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Alibaba Group in the first quarter valued at about $2,422,000. Trivest Advisors Ltd acquired a new position in Alibaba Group during the first quarter worth approximately $295,270,000. Canopy Partners LLC acquired a new position in Alibaba Group during the first quarter worth approximately $272,000. Kirtland Hills Capital Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth approximately $276,000. Finally, Fiera Capital Corp acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $3,467,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $122.19 on Tuesday. The company has a market cap of $291.47 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.77 and a beta of 0.22. Alibaba Group Holding Limited has a 52 week low of $73.87 and a 52 week high of $148.43. The business has a 50 day moving average price of $115.94 and a 200-day moving average price of $117.42. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

Alibaba Group Cuts Dividend

The firm also recently announced a — dividend, which was paid on Thursday, July 10th. Stockholders of record on Thursday, June 12th were issued a $0.95 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 12th. Alibaba Group’s dividend payout ratio is presently 12.75%.

Wall Street Analyst Weigh In

BABA has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Monday, July 21st. Mizuho cut their target price on shares of Alibaba Group from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Arete downgraded Alibaba Group from a “buy” rating to a “neutral” rating and set a $153.00 target price on the stock. in a research report on Tuesday, June 24th. Bank of America decreased their target price on Alibaba Group from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, July 11th. Finally, Arete Research downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $153.29.

Alibaba Group Profile

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.