
American Century Companies Inc. Acquires 448,484 Shares of Alibaba Group Holding Limited $BABA

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American Century Companies Inc. increased its stake in Alibaba Group Holding Limited by 17.7% in Q3, acquiring 448,484 shares, bringing its total to 2,987,539 shares valued at approximately $533.96 million. Other hedge funds also adjusted their positions in Alibaba. The stock is currently down 2.7%, with a market cap of $343.98 billion and a P/E ratio of 19.90. Recent earnings missed estimates, with revenue of $34.80 billion, and analysts forecast 7.86 EPS for the fiscal year. Positive sentiment surrounds Alibaba's AI initiatives and cloud services, despite ongoing political uncertainties affecting stock performance.
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