Northern Trust Corp Buys 9,877 Shares of Baidu, Inc. $BIDU

Key Points

• Northern Trust Corp increased its holdings in Baidu, Inc. by 4.1%, owning over 250,000 shares valued at approximately $23 million as of the latest disclosure.
• Baidu's stock price rose by 4.8%, with the current trading price at $95.30 and an average target price set by analysts at $102.75.
• Recent analyst ratings reflect a consensus of "Hold" for Baidu, with several firms lowering price targets, including Barclays, which decreased its target from $84 to $81.

Northern Trust Corp grew its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,531 shares of the information services provider's stock after buying an additional 9,877 shares during the quarter. Northern Trust Corp owned 0.07% of Baidu worth $23,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BIDU. Mirae Asset Global Investments Co. Ltd. raised its position in Baidu by 1,377.5% during the first 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 in the last quarter. RPD Fund Management LLC bought a new stake in Baidu during the fourth quarter worth $72,245,000. Massachusetts Financial Services Co. MA raised its position in shares of Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider's stock valued at $74,298,000 after purchasing an additional 615,061 shares during the period. Cantor Fitzgerald L. P. raised its position in shares of Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after purchasing an additional 375,145 shares during the period. Finally, Polunin Capital Partners Ltd bought a new position in shares of Baidu in the first quarter valued at about $31,748,000.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of recent research reports. Barclays lowered their price target 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. Wall Street Zen lowered shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Citigroup raised their price target 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. Finally, Jefferies Financial Group lowered their price target 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. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Baidu has a consensus rating of "Hold" and a consensus target price of $104.00.

Baidu Price Performance

NASDAQ:BIDU traded up $0.99 during mid-day trading on Tuesday, reaching $96.29. The stock had a trading volume of 7,124,721 shares, compared to its average volume of 4,286,883. The stock has a 50-day simple moving average of $88.83 and a two-hundred day simple moving average of $88.44. The stock has a market capitalization of $33.26 billion, a PE ratio of 8.87 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $116.25.

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.