Allianz SE Has $983,000 Stock Position in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• Allianz SE increased its stake in Baidu, Inc. by 107.5% in the first quarter, owning 10,681 shares valued at approximately $983,000.
• Several institutional investors have also adjusted their positions in Baidu, with notable increases such as Ameriprise Financial Inc. boosting its stake by 7.5%.
• Research analysts have varied opinions on Baidu, with firms like Benchmark and Jefferies lowering their price targets while maintaining buy ratings, leading to a consensus rating of "Hold" for the stock.

Allianz SE increased its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 107.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,681 shares of the information services provider's stock after purchasing an additional 5,534 shares during the period. Allianz SE's holdings in Baidu were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIDU. FNY Investment Advisers LLC acquired a new stake in shares of Baidu in the 1st quarter valued at approximately $922,000. Janney Montgomery Scott LLC acquired a new stake in Baidu in the first quarter worth $274,000. Ameriprise Financial Inc. boosted its position in shares of Baidu by 7.5% during the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock worth $3,874,000 after purchasing an additional 3,200 shares in the last quarter. Cantor Fitzgerald L. P. grew its holdings in shares of Baidu by 1,510.9% in the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after buying an additional 375,145 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Baidu by 19.4% in the 4th quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider's stock valued at $14,068,000 after buying an additional 27,057 shares in the last quarter.

Baidu Trading Down 2.0%

Baidu stock opened at $86.13 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a 50-day moving average of $86.85 and a 200-day moving average of $88.36. The company has a market cap of $29.75 billion, a price-to-earnings ratio of 8.54 and a beta of 0.34. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25.

Analyst Ratings Changes

Several research analysts have weighed in on BIDU shares. Benchmark reduced their target price on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Barclays cut their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. Macquarie reissued a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Jefferies Financial Group cut their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Citigroup increased 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. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Baidu currently has a consensus rating of "Hold" and a consensus price target of $105.09.

Baidu Company 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.

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