Amundi increased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,993 shares of the information services provider's stock after purchasing an additional 13,015 shares during the quarter. Amundi's holdings in Baidu were worth $10,628,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in BIDU. Signature Equity Partners LLC acquired a new stake in shares of Baidu in the 1st quarter worth $25,000. Binnacle Investments Inc acquired a new stake in shares of Baidu during the second quarter valued at $29,000. Sankala Group LLC acquired a new position in Baidu in the 4th quarter valued at $46,000. Brown Brothers Harriman & Co. boosted its position in shares of Baidu by 35.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock worth $53,000 after acquiring an additional 105 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Baidu by 25.9% during the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock valued at $56,000 after acquiring an additional 88 shares during the period.
Wall Street Analysts Forecast Growth
BIDU has been the topic of several recent research reports. Benchmark reduced their target price on shares of Baidu from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, August 19th. Morgan Stanley downgraded Baidu from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $130.00 to $80.00 in a report on Wednesday, August 19th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Baidu in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Baidu from a "sell" rating to a "hold" rating in a research note on Monday, May 25th. Finally, Nomura raised their price objective on shares of Baidu from $186.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Baidu currently has an average rating of "Moderate Buy" and a consensus target price of $152.94.
Check Out Our Latest Research Report on BIDU
Baidu Stock Performance
Shares of BIDU opened at $91.40 on Friday. The firm has a fifty day moving average of $103.64 and a 200-day moving average of $115.71. The company has a market cap of $31.10 billion, a price-to-earnings ratio of -43.32, a price-to-earnings-growth ratio of 4.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. Baidu, Inc. has a 1 year low of $89.60 and a 1 year high of $165.30.
About Baidu
(
Free Report)
Baidu, Inc NASDAQ: BIDU is a Chinese technology company that provides internet search, artificial intelligence and related digital services. Its core business is Baidu Search, which helps users find information, products and services online through web search, mobile applications and other content platforms.
The company has expanded its artificial intelligence offerings through products and services such as the ERNIE family of large language models, AI Cloud, intelligent voice technologies and AI-powered applications.
See Also
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