Matthews International Capital Management LLC Buys Shares of 23,363 Baidu, Inc. $BIDU

Key Points

• Matthews International Capital Management opened a new position in Baidu during the first quarter, buying 23,363 shares worth about $2.6 million. The stake represents 1.1% of the fund’s portfolio and is its 28th-largest holding.
• Other major institutions also adjusted their Baidu holdings, with firms like Morgan Stanley, RPD Fund Management, Capital World Investors, ARK Investment Management, and Bank of America all reporting sizable increases in ownership.
• Analyst sentiment remains mixed but generally positive: Baidu has a Moderate Buy consensus rating, with an average price target of $162.58 after several analysts recently raised targets or reiterated buy/neutral views.

Matthews International Capital Management LLC purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,363 shares of the information services provider's stock, valued at approximately $2,603,000. Baidu comprises 1.1% of Matthews International Capital Management LLC's investment portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in BIDU. Morgan Stanley lifted its holdings in Baidu by 38.0% during the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider's stock worth $354,014,000 after buying an additional 745,588 shares during the period. RPD Fund Management LLC lifted its stake in shares of Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock worth $107,959,000 after acquiring an additional 777,570 shares during the period. Capital World Investors boosted its holdings in Baidu by 21.0% in the fourth quarter. Capital World Investors now owns 1,182,857 shares of the information services provider's stock valued at $154,552,000 after acquiring an additional 205,040 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Baidu by 127.8% in the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider's stock valued at $151,288,000 after acquiring an additional 649,490 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider's stock valued at $148,804,000 after purchasing an additional 582,832 shares during the period.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Susquehanna raised their price target on shares of Baidu from $120.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, May 20th. Citigroup reiterated a "buy" rating on shares of Baidu in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Baidu from a "sell" rating to a "hold" rating in a research note on Monday, May 25th. Nomura boosted their target price on shares of Baidu from $186.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, Morgan Stanley upped their price target on shares of Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.58.

Baidu Price Performance

Baidu stock opened at $117.53 on Monday. The firm has a market capitalization of $39.99 billion, a price-to-earnings ratio of -979.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56. The firm's fifty day moving average price is $124.22 and its two-hundred day moving average price is $128.69. Baidu, Inc. has a 1-year low of $84.64 and a 1-year high of $165.30. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22.

Baidu Company Profile

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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