Allianz Asset Management GmbH grew its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,270 shares of the information services provider's stock after purchasing an additional 11,270 shares during the quarter. Allianz Asset Management GmbH's holdings in Baidu were worth $5,179,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in BIDU. Creekmur Asset Management LLC purchased a new position in Baidu in the first quarter worth approximately $29,000. UMB Bank n.a. increased its holdings in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares during the period. CX Institutional acquired a new position in Baidu in the 1st quarter valued at $49,000. GeoWealth Management LLC increased its stake in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after buying an additional 308 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new position in Baidu in the 1st quarter valued at $97,000.
Wall Street Analyst Weigh In
Several brokerages have commented on BIDU. Jefferies Financial Group decreased 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. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup boosted their price objective on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Barclays decreased their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Finally, Benchmark decreased their price objective on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $105.09.
Read Our Latest Report on Baidu
Baidu Trading Down 1.8%
BIDU traded down $1.57 on Friday, reaching $86.30. 1,332,324 shares of the company's stock were exchanged, compared to its average volume of 4,426,799. 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 twelve month low of $74.71 and a twelve month high of $116.25. The company's 50 day moving average is $86.80 and its 200-day moving average is $88.22. The company has a market cap of $29.81 billion, a price-to-earnings ratio of 8.57 and a beta of 0.33.
Baidu Company Profile
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Free Report)
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.
Further Reading
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