Dimensional Fund Advisors LP Sells 10,552 Shares of Baidu, Inc. $BIDU

Key Points

• Dimensional Fund Advisors trimmed its position in Baidu by 0.8%, selling 10,552 shares and leaving it with 1,243,620 shares (about 0.36% of the company) valued at roughly $163.9 million.
• Analyst sentiment is broadly positive with an average rating of "Moderate Buy" and an average target price of $157.89; notable actions include JPMorgan upgrading Baidu to "overweight" and raising its target to $188.
• Baidu stock opened at $122.48, with a market cap of $42.31 billion, a P/E of 77.03, and a 52-week range of $74.71 to $165.30.

Dimensional Fund Advisors LP reduced its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,243,620 shares of the information services provider's stock after selling 10,552 shares during the quarter. Dimensional Fund Advisors LP owned about 0.36% of Baidu worth $163,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in Baidu during the 1st quarter worth $334,000. Envestnet Asset Management Inc. lifted its stake in shares of Baidu by 10.1% during the second quarter. Envestnet Asset Management Inc. now owns 10,995 shares of the information services provider's stock valued at $943,000 after acquiring an additional 1,007 shares during the period. Assetmark Inc. lifted its stake in shares of Baidu by 127.6% during the second quarter. Assetmark Inc. now owns 742 shares of the information services provider's stock valued at $64,000 after acquiring an additional 416 shares during the period. Savant Capital LLC acquired a new stake in Baidu in the second quarter worth about $213,000. Finally, Campbell & CO Investment Adviser LLC increased its position in Baidu by 148.1% in the second quarter. Campbell & CO Investment Adviser LLC now owns 22,259 shares of the information services provider's stock worth $1,909,000 after purchasing an additional 13,289 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BIDU shares. National Bank Financial upgraded shares of Baidu to an "outperform" rating in a research report on Monday, November 24th. The Goldman Sachs Group lifted their target price on shares of Baidu from $154.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, November 19th. Zephirin Group upped their target price on shares of Baidu from $88.00 to $89.00 and gave the company a "sell" rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. upgraded Baidu from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $110.00 to $188.00 in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Baidu in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.89.

Baidu Stock Up 2.9%

Baidu stock opened at $122.48 on Tuesday. The firm has a market capitalization of $42.31 billion, a price-to-earnings ratio of 77.03 and a beta of 0.33. The company's 50 day simple moving average is $141.55 and its 200 day simple moving average is $127.92. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $165.30.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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