Groupama Asset Managment Raises Stake in Baidu, Inc. $BIDU

Key Points

• Groupama Asset Management raised its stake in Baidu, Inc. by 119.9% during the first quarter, owning 5,864 shares worth $548,000 at the end of the period.
• Other investors, including HSBC Holdings PLC and Triata Capital Ltd, significantly increased their holdings in Baidu, reflecting a robust investment interest in the company.
• Analysts have varying price targets for Baidu, with a consensus average target of $105.09, with seven ratings to buy and eleven to hold the stock.

Groupama Asset Managment raised its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 119.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,864 shares of the information services provider's stock after buying an additional 3,197 shares during the quarter. Groupama Asset Managment's holdings in Baidu were worth $548,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its holdings in Baidu by 160.8% in the 1st quarter. Hsbc Holdings PLC now owns 244,911 shares of the information services provider's stock valued at $22,566,000 after buying an additional 151,014 shares in the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new stake in Baidu in the 1st quarter valued at $1,058,000. Triata Capital Ltd grew its holdings in Baidu by 193.9% in the 1st quarter. Triata Capital Ltd now owns 568,432 shares of the information services provider's stock valued at $52,313,000 after buying an additional 375,007 shares in the last quarter. Northern Trust Corp grew its holdings in Baidu by 4.1% in the 1st quarter. Northern Trust Corp now owns 250,531 shares of the information services provider's stock valued at $23,056,000 after buying an additional 9,877 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in Baidu by 1,108.5% in the 1st quarter. Brooklyn Investment Group now owns 2,127 shares of the information services provider's stock valued at $196,000 after buying an additional 1,951 shares in the last quarter.

Baidu Price Performance

BIDU opened at $86.76 on Thursday. The stock's 50-day moving average price is $87.65 and its 200 day moving average price is $88.44. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The firm has a market cap of $29.97 billion, a price-to-earnings ratio of 8.61 and a beta of 0.34.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays dropped their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. 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. Citigroup upped 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. Benchmark decreased their price target on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Macquarie reaffirmed a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $105.09.

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.

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