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American Century Companies Inc buys on Alibaba stake


American Century Companies Inc. bought Alibaba’s stake amid the fourth quarter, according to a legal filing with the Securities and Exchange Commission (SEC). The fund purchased about 1,442,220 shares, with a total value of $117,209,000. The company currently owns 0.06% of Alibaba as per recent filing with the SEC. 

Many hedge funds, including institutional investors currently weigh in on Alibaba stocks. Winslow Capital Management, LLC increased 28.0% shares of the company in the fourth quarter. It now owns 4,883,053 shares, worth $396,845,000 after purchasing an additional 1,067,782 shares amid the prior quarter. World Asset Management, Inc acquired new positions during the fourth quarter, valuing about $7,981,000. CWM LLC lifted position around 27.0% in the fourth quarter. It now owns by about 13,389 shares, worth $1,088,000 after purchasing an additional 2,843 shares amid the prior quarter. Korea Investment CORP acquired a new position during the fourth quarter, valuing about $39,554,000. Lastly, Pillar Pacific Capital Management, LLC upgraded positions by 12.0% in the fourth quarter. It now owns about 43,200 shares, with a total value of $3,511,000 after purchasing an additional 4,635 shares amid the prior quarter. 

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Company shares of Alibaba traded at 62.64 during Friday session. It posted a 50-day moving average of $73.80, and a 200-day moving average of $74.18. The stock’s 12-month low registered at $57.20, while its 12-month high is $95.06. The market cap of the firm stands at $153.22 billion, along with a 15.39 P/E ratio. 

Alibaba recently issued financial earnings for the quarter on January 28th. It posted a quarterly earnings per share (EPS) of $0.98, beating the analysts’ consensus estimate of $0.88 by $0.10. Amid the same quarter prior year, it has earned an EPS of $0.81. The company’s revenue for the quarter posted a $5.33 billion, compared to analysts’ forecast of $5.02 billion. On average, analysts are expecting the company to post an EPS of $17.48 for the current fiscal year. 

Many brokerage firms made changes in the company’s stock. Cantor Fitzgerald reissued a rating of “buy” and gave a price objective of $90.00 on January 24th. Deutsche Bank reiterated a rating of “buy” and boosted their price objective from $99.00 to $102.00 on January 28th. Evercore ISI reassigned a rating of “buy” and lifted a price objective from $88.00 to $94.00 on October 28th. Wedbush restated a rating of “hold” on January 31st. Lastly, RBC Capital reissued a rating of “outperform” and gave a price objective of $95.00 on January 13th. 

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Four analysts of which gave a hold rating on the stock, thirty-three issued a rating of buy, and one affirmed a rating of strong buy. The current consensus rating of the company settled at “Buy”, along with a $93.92 consensus price objective. 

The Alibaba Group Holding Limited is mainly a holding firm. It primarily engaged in online commerce including mobile commerce through products, services and technology. It is a retail and wholesale provider as well in the marketplaces which is available under the two personal computers and mobile interfaces in the PRC and globally. 

As the American Century Companies Inc buys on Alibaba stake, tons of investors will likely watch out for signals about this company stock. You too can earn bigger profits and execute better trades here at Trade12 by reading the latest market updates on our official website, Trade12.com. Striving to become the best forex broker for you, Trade12 reviews daily market events essential to your trading activities to help you develop a keen understanding of what is forex and certain trends involving stocks, currencies, indices, commodities, and metals. With all the positive Trade12 feedback from clients, you will be assured that your trading account is safe and secured.

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