Baidu, Inc. (NASDAQ:BIDU) Position Boosted by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Baidu, Inc. (NASDAQ:BIDU) by 23.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,483 shares of the information services provider’s stock after buying an additional 2,389 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Baidu were worth $1,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIDU. Primecap Management Co. CA raised its position in shares of Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after buying an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after buying an additional 14,878 shares during the period. International Assets Investment Management LLC grew its position in shares of Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after buying an additional 1,061,893 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after acquiring an additional 338,110 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have commented on BIDU. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Barclays lowered their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Loop Capital cut their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.29.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $84.80 on Wednesday. Baidu, Inc. has a 1 year low of $79.68 and a 1 year high of $126.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a fifty day moving average price of $93.44 and a two-hundred day moving average price of $93.93. The firm has a market cap of $29.74 billion, a P/E ratio of 11.17 and a beta of 0.51.

Baidu Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.