Mitsubishi UFJ Asset Management Co. Ltd. Has $3.22 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,952 shares of the information services provider's stock after buying an additional 3,441 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Baidu were worth $3,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Baidu by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider's stock worth $10,170,000 after purchasing an additional 1,020 shares in the last quarter. Cerity Partners LLC lifted its position in Baidu by 17.5% during the fourth quarter. Cerity Partners LLC now owns 4,281 shares of the information services provider's stock worth $365,000 after purchasing an additional 638 shares during the period. Raymond James Financial Inc. acquired a new stake in Baidu during the fourth quarter worth about $3,497,000. Rockefeller Capital Management L.P. grew its stake in Baidu by 16.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 29,110 shares of the information services provider's stock worth $2,454,000 after buying an additional 4,047 shares in the last quarter. Finally, Savvy Advisors Inc. bought a new position in Baidu in the 4th quarter valued at about $232,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIDU. Citigroup upped their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Barclays lowered their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. 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. Jefferies Financial Group decreased their price target on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of "Hold" and a consensus price target of $105.09.

Baidu Trading Up 1.3%

Shares of Baidu stock traded up $1.12 on Friday, hitting $89.85. The stock had a trading volume of 3,829,679 shares, compared to its average volume of 3,819,469. The stock has a 50 day moving average of $87.61 and a 200 day moving average of $88.50. The firm has a market capitalization of $31.04 billion, a P/E ratio of 8.91 and a beta of 0.34. 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 0.27, a quick ratio of 2.29 and a current ratio of 2.29.

About Baidu

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.