Baidu, Inc. (NASDAQ:BIDU) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 319.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 807,322 shares of the information services provider's stock after acquiring an additional 615,061 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.23% of Baidu worth $74,298,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Baidu by 5.4% during the first 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 in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Baidu by 8.4% during the first quarter. SBI Securities Co. Ltd. now owns 6,983 shares of the information services provider's stock valued at $643,000 after acquiring an additional 542 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Baidu by 160.2% during the first quarter. Cerity Partners LLC now owns 11,138 shares of the information services provider's stock valued at $1,025,000 after acquiring an additional 6,857 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Baidu by 39.7% during the first quarter. Axxcess Wealth Management LLC now owns 7,037 shares of the information services provider's stock valued at $648,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Silphium Asset Management Ltd acquired a new position in shares of Baidu during the first quarter valued at about $1,150,000.

Analysts Set New Price Targets

Several research firms have recently issued reports on BIDU. Macquarie restated a "neutral" rating on shares of Baidu in a report on Wednesday, May 21st. Barclays cut their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday. Citigroup increased their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark cut their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Jefferies Financial Group cut their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $105.09.

Baidu Price Performance

Baidu stock traded up $0.30 during trading on Friday, reaching $87.81. The company had a trading volume of 5,766,494 shares, compared to its average volume of 4,024,932. The firm's 50-day simple moving average is $86.69 and its 200 day simple moving average is $87.71. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The firm has a market capitalization of $30.33 billion, a PE ratio of 8.71 and a beta of 0.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29.

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.