Baidu, Inc. $BIDU Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in Baidu, Inc. by 28.3%, owning 160,713 shares valued at approximately $14.79 million as of the latest report.
• Multiple large investors, including Mirae Asset Global Investments and Massachusetts Financial Services, significantly boosted their holdings in Baidu, indicating strong institutional interest in the stock.
• Baidu's stock has seen fluctuations, currently priced at $107.60, with analysts divided on its outlook, with ratings ranging from "buy" to "sell" and an average price target of $104.00.

Royal Bank of Canada raised its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 28.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,713 shares of the information services provider's stock after purchasing an additional 35,479 shares during the period. Royal Bank of Canada's holdings in Baidu were worth $14,791,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BIDU. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Baidu by 1,377.5% during the 1st 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 acquiring an additional 4,964,350 shares during the period. RPD Fund Management LLC acquired a new stake in Baidu during the 4th quarter worth approximately $72,245,000. Massachusetts Financial Services Co. MA increased its position in Baidu by 319.9% during the 1st 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. Triata Capital Ltd increased its position in Baidu by 193.9% during the 1st quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock worth $52,313,000 after purchasing an additional 375,007 shares in the last quarter. Finally, Polunin Capital Partners Ltd acquired a new stake in Baidu during the 1st quarter worth approximately $31,748,000.

Baidu Stock Down 0.8%

BIDU opened at $107.60 on Thursday. The business has a 50 day moving average price of $90.91 and a 200 day moving average price of $88.97. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $37.17 billion, a P/E ratio of 9.92 and a beta of 0.34.

Analysts Set New Price Targets

Several analysts have issued reports on BIDU shares. Wall Street Zen downgraded shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Jefferies Financial Group reduced their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Macquarie restated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Citigroup raised their target price on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Benchmark lowered their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of "Hold" and an average price target of $104.00.

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.

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