Ameriprise Financial Inc. Acquires 3,200 Shares of Baidu, Inc. (NASDAQ:BIDU)

Ameriprise Financial Inc. grew its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,949 shares of the information services provider's stock after purchasing an additional 3,200 shares during the quarter. Ameriprise Financial Inc.'s holdings in Baidu were worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. FIL Ltd boosted 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 acquiring an additional 471,497 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Baidu by 1,111.3% during 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 acquiring an additional 330,627 shares during the last quarter. Contrarius Group Holdings Ltd bought a new position in shares of Baidu during the fourth quarter worth $27,328,000. Pictet Asset Management Holding SA raised its stake in Baidu by 9.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider's stock valued at $203,213,000 after purchasing an additional 207,966 shares in the last quarter. Finally, Infini Capital Management Ltd raised its stake in Baidu by 1,510.4% during the fourth quarter. Infini Capital Management Ltd now owns 180,360 shares of the information services provider's stock valued at $15,206,000 after purchasing an additional 169,160 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Daiwa Capital Markets reaffirmed an "outperform" rating on shares of Baidu in a research note on Tuesday, February 18th. Nomura downgraded shares of Baidu from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on shares of Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Benchmark decreased their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Nomura Securities downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Baidu has a consensus rating of "Hold" and an average target price of $107.82.

Baidu Trading Down 3.1%

BIDU stock traded down $2.58 during trading on Friday, hitting $81.81. The company had a trading volume of 4,345,417 shares, compared to its average volume of 4,159,081. The firm has a market capitalization of $28.26 billion, a P/E ratio of 8.92, a PEG ratio of 2.96 and a beta of 0.37. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The company has a 50 day simple moving average of $86.74 and a 200-day simple moving average of $87.68. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19.

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.