Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Baidu, Inc. by 9.0%, acquiring an additional 10,697 shares, bringing their total holdings to 129,179 shares valued at approximately $11.89 million.
• Other institutional investors, including FNY Investment Advisers LLC and Cantor Fitzgerald L. P., also made significant changes to their positions in Baidu, indicating a shift in investor sentiment.
• Baidu's stock has seen analyst ratings shift, with Citi raising its price target to $140 while others like Barclays lowered theirs to $81, resulting in a consensus rating of "Hold".

Alberta Investment Management Corp boosted its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,179 shares of the information services provider's stock after purchasing an additional 10,697 shares during the quarter. Alberta Investment Management Corp's holdings in Baidu were worth $11,888,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Baidu by 1,377.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock worth $490,035,000 after purchasing an additional 4,964,350 shares in the last quarter. RPD Fund Management LLC acquired a new position in shares of Baidu during the fourth quarter worth $72,245,000. Massachusetts Financial Services Co. MA lifted its position in shares of Baidu by 319.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock worth $74,298,000 after purchasing an additional 615,061 shares in the last quarter. FIL Ltd lifted its position in shares of Baidu by 367.1% during the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock worth $50,579,000 after purchasing an additional 471,497 shares in the last quarter. Finally, Cantor Fitzgerald L. P. lifted its position in shares of Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after purchasing an additional 375,145 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group reduced their target price on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Barclays cut their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. Benchmark cut their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Finally, Citigroup upped their price target on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Baidu presently has an average rating of "Hold" and an average price target of $105.09.

Baidu Stock Performance

Shares of Baidu stock traded up $1.51 during trading on Monday, hitting $87.64. 2,776,516 shares of the stock were exchanged, compared to its average volume of 4,591,063. The stock's fifty day moving average is $86.85 and its 200 day moving average is $88.36. The stock has a market cap of $30.28 billion, a PE ratio of 8.69 and a beta of 0.34. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25.

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.