Hhlr Advisors LTD. Invests $15.65 Million in Baidu, Inc. $BIDU

Key Points

• Hhlr Advisors LTD. has acquired a new position in Baidu, Inc., purchasing 170,000 shares valued at approximately $15.65 million, making it the 16th largest holding in their portfolio.
• Several large investors have increased their stakes in Baidu, with changes including a 143.3% lift by Assetmark Inc. and new stakes acquired by multiple funds, showing growing interest in the stock.
• Wall Street analysts have recently cut price targets for Baidu, with an average target price now at $102.75, while ratings range from "buy" to "sell" among analysts.

Hhlr Advisors LTD. acquired a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 170,000 shares of the information services provider's stock, valued at approximately $15,645,000. Baidu makes up approximately 0.5% of Hhlr Advisors LTD.'s holdings, making the stock its 16th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in BIDU. Northern Trust Corp grew its stake in shares of Baidu by 68.9% in the fourth quarter. Northern Trust Corp now owns 240,654 shares of the information services provider's stock worth $20,290,000 after purchasing an additional 98,178 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Baidu in the 4th quarter valued at about $587,000. Ameriprise Financial Inc. increased its stake in Baidu by 7.5% during the 4th quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after buying an additional 3,200 shares during the period. BNP Paribas Financial Markets raised its position in shares of Baidu by 3.6% during the 4th quarter. BNP Paribas Financial Markets now owns 306,754 shares of the information services provider's stock worth $25,862,000 after buying an additional 10,564 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Baidu by 14.1% in 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.

Baidu Trading Up 1.9%

BIDU traded up $1.81 during trading on Thursday, reaching $98.21. The company had a trading volume of 4,233,045 shares, compared to its average volume of 4,449,038. The firm's 50-day simple moving average is $89.26 and its 200 day simple moving average is $88.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $33.93 billion, a price-to-earnings ratio of 9.05 and a beta of 0.34. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BIDU shares. Wall Street Zen lowered shares of Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Jefferies Financial Group lowered their price target on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Barclays cut their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Citigroup raised their target price on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Benchmark dropped their price target on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Baidu has an average rating of "Hold" and an average price target of $104.00.

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.