Dimensional Fund Advisors LP Purchases 11,658 Shares of Baidu, Inc. $BIDU

Key Points

• Dimensional Fund Advisors LP increased its stake in Baidu, Inc. by 0.9%, acquiring an additional 11,658 shares to hold approximately 1,361,973 shares valued at $125.3 million.
• Other institutional investors significantly increased their holdings in Baidu, with Mirae Asset Global Investments raising its position by an astonishing 1,377.5% during the first quarter.
• Baidu's stock has a market capitalization of $30.26 billion and recent analyst ratings show a mix of Buy and Hold ratings, leading to an average target price of approximately $104.64.

Dimensional Fund Advisors LP boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,361,973 shares of the information services provider's stock after acquiring an additional 11,658 shares during the period. Dimensional Fund Advisors LP owned 0.39% of Baidu worth $125,338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake 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 during the period. CoreView Capital Management Ltd increased its stake 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 during the period. Bank of America Corp DE increased its stake in Baidu by 14.1% during the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock worth $77,014,000 after acquiring an additional 112,680 shares during the period. RPD Fund Management LLC bought a new position in Baidu during the 4th quarter worth $72,245,000. Finally, Massachusetts Financial Services Co. MA increased its stake 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 acquiring an additional 615,061 shares during the period.

Analyst Ratings Changes

A number of research firms have commented on BIDU. Benchmark lowered their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, August 21st. Citigroup lifted their price target on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen lowered Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Finally, 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. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $102.75.

Baidu Price Performance

Shares of BIDU traded down $2.62 during midday trading on Wednesday, hitting $89.86. The company's stock had a trading volume of 4,292,343 shares, compared to its average volume of 3,995,075. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company's fifty day simple moving average is $88.06 and its two-hundred day simple moving average is $88.47. 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 stock has a market capitalization of $31.04 billion, a price-to-earnings ratio of 8.28 and a beta of 0.34.

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.