DCF Advisers LLC Raises Stake in Baidu, Inc. (NASDAQ:BIDU)

Key Points

• DCF Advisers LLC increased its stake in Baidu, Inc. by 9.9% in the 1st quarter, now owning 52,500 shares valued at approximately $4.83 million.
• Several hedge funds, including Mirae Asset Global Investments, made significant increases in their holdings of Baidu, showcasing growing institutional interest.
• Baidu's current stock price is $86.13, with analysts suggesting a mixed outlook, as evidenced by fluctuating price targets and ratings from various brokerages.

DCF Advisers LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,500 shares of the information services provider's stock after buying an additional 4,750 shares during the quarter. Baidu comprises approximately 2.3% of DCF Advisers LLC's portfolio, making the stock its 12th biggest position. DCF Advisers LLC's holdings in Baidu were worth $4,832,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Baidu by 5.4% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 9,126 shares of the information services provider's stock valued at $898,000 after acquiring an additional 469 shares during the period. Kazazian Asset Management LLC purchased a new stake in shares of Baidu in the first quarter valued at approximately $1,067,000. Alberta Investment Management Corp increased its position in shares of Baidu by 9.0% during the first quarter. Alberta Investment Management Corp now owns 129,179 shares of the information services provider's stock worth $11,888,000 after purchasing an additional 10,697 shares in the last quarter. US Bancorp DE lifted its stake in shares of Baidu by 76.2% in the 1st quarter. US Bancorp DE now owns 7,110 shares of the information services provider's stock valued at $654,000 after purchasing an additional 3,074 shares during the last quarter. Finally, Monaco Asset Management SAM lifted its stake in Baidu by 35.8% during the 1st quarter. Monaco Asset Management SAM now owns 246,371 shares of the information services provider's stock worth $22,674,000 after acquiring an additional 65,000 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays dropped their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Benchmark lowered their target price on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Citigroup boosted their price objective on Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group reduced their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $105.09.

Baidu Stock Performance

BIDU stock traded down $0.89 during mid-day trading on Tuesday, hitting $86.75. The company had a trading volume of 711,208 shares, compared to its average volume of 4,398,786. The stock's fifty day moving average price is $86.92 and its two-hundred day moving average price is $88.40. Baidu, Inc. has a 12 month low of $74.71 and a 12 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. The firm has a market cap of $29.97 billion, a PE ratio of 8.61 and a beta of 0.34.

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.