Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 913,466 shares of the information services provider's stock after buying an additional 112,680 shares during the period. Bank of America Corp DE owned approximately 0.26% of Baidu worth $77,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in BIDU. SG Americas Securities LLC raised its stake in Baidu by 147.5% in the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after acquiring an additional 227,338 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Baidu in the fourth quarter valued at about $558,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock worth $30,317,000 after purchasing an additional 330,627 shares during the last quarter. Ping Capital Management Inc. lifted its holdings in shares of Baidu by 300.0% during the fourth quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider's stock worth $843,000 after purchasing an additional 7,500 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Baidu in the fourth quarter valued at approximately $2,202,000.

Baidu Trading Up 0.2%

Shares of BIDU stock traded up $0.16 during trading on Friday, hitting $89.34. 2,260,032 shares of the stock traded hands, compared to its average volume of 4,121,280. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The firm has a market capitalization of $30.86 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The firm's fifty day moving average price is $89.13 and its 200-day moving average price is $88.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Analyst Ratings Changes

A number of research firms have issued reports on BIDU. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Barclays lowered their price target on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Mizuho boosted their price objective on Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Benchmark restated a "buy" rating and set a $130.00 price target on shares of Baidu in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $110.83.

About Baidu

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.