Baidu, Inc. $BIDU Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in Baidu, Inc. by 11.5%, now holding 61,570 shares valued at approximately $5.66 million.
• Other institutional investors, including Raymond James Financial and Pinebridge Investments, also adjusted their positions in Baidu, indicating increased institutional interest.
• Baidu's current stock price is $90.01, with a 12-month trading range of $74.71 to $116.25, and a market cap of $31.09 billion.

Credit Agricole S A boosted its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,570 shares of the information services provider's stock after acquiring an additional 6,350 shares during the period. Credit Agricole S A's holdings in Baidu were worth $5,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Baidu by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock worth $125,338,000 after acquiring an additional 11,658 shares in the last quarter. CoreView Capital Management Ltd grew its holdings in Baidu by 2.0% during the 4th quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock worth $106,399,000 after acquiring an additional 25,220 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Baidu by 14.1% during the fourth quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after buying an additional 112,680 shares during the last quarter. Finally, RPD Fund Management LLC purchased a new stake in shares of Baidu during the fourth quarter valued at about $72,245,000.

Baidu Stock Performance

Shares of Baidu stock traded down $2.74 during midday trading on Wednesday, hitting $89.74. The company had a trading volume of 4,006,917 shares, compared to its average volume of 4,401,042. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 8.27 and a beta of 0.34. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $87.95 and a 200 day simple moving average of $88.46. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25.

Wall Street Analysts Forecast Growth

Several analysts have commented on BIDU shares. Citigroup increased their price target on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Benchmark decreased their price target on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Macquarie reissued a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Finally, Jefferies Financial Group decreased their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $102.75.

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.