150,007 Shares in Baidu, Inc. (NASDAQ:BIDU) Acquired by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. has invested approximately $13.80 million in Baidu, purchasing 150,007 shares during the first quarter.
• Analysts have mixed opinions on Baidu, with Jefferies reducing their price target from $120 to $110 while Citigroup increased theirs from $138 to $140, indicating a generally cautious outlook.
• Baidu's stock currently trades around $90.80, with a market cap of $31.37 billion, and analysts reflect an average hold rating with a price target of about $105.09.

Nikko Asset Management Americas Inc. bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 150,007 shares of the information services provider's stock, valued at approximately $13,798,000.

A number of other institutional investors have also recently added to or reduced their stakes in BIDU. FNY Investment Advisers LLC acquired a new stake in shares of Baidu in the first quarter valued at about $922,000. Janney Montgomery Scott LLC acquired a new stake in Baidu during the 1st quarter valued at approximately $274,000. Ameriprise Financial Inc. increased its position 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 purchasing an additional 3,200 shares during the period. Diametric Capital LP increased its position in Baidu by 51.9% during the 4th quarter. Diametric Capital LP now owns 8,218 shares of the information services provider's stock valued at $693,000 after purchasing an additional 2,809 shares during the period. Finally, Cantor Fitzgerald L. P. increased its position in Baidu by 1,510.9% during the 4th quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock valued at $33,722,000 after purchasing an additional 375,145 shares during the period.

Baidu Price Performance

Baidu stock traded down $0.50 during midday trading on Wednesday, hitting $86.30. 1,271,098 shares of the company's stock were exchanged, compared to its average volume of 4,442,100. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The stock has a 50-day moving average price of $86.71 and a two-hundred day moving average price of $88.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market cap of $29.81 billion, a P/E ratio of 8.56 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BIDU. Barclays decreased their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Benchmark cut their target price on Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Citigroup raised their price objective on shares of Baidu from $138.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group reduced their price objective on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $105.09.

About Baidu

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.