Price T Rowe Associates Inc. MD Raises Stock Holdings in Baidu, Inc. $BIDU

Key Points

• Price T Rowe Associates Inc. MD has increased its stake in Baidu, Inc. by 2.6%, acquiring an additional 25,834 shares, bringing their total holdings to over 1 million shares valued at approximately $95 million.
• Shares of Baidu, Inc. are currently trading at $91.93, reflecting a 2.1% increase, and the company has a market cap of $31.76 billion with a price-to-earnings ratio of 8.47.
• Recent analyst ratings for Baidu have varied, with Jefferies Financial Group lowering their price target from $120 to $110, while Citigroup raised theirs from $138 to $140, indicating mixed sentiment from market analysts.

Price T Rowe Associates Inc. MD raised its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,037,626 shares of the information services provider's stock after acquiring an additional 25,834 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.30% of Baidu worth $95,494,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BIDU. Mirae Asset Global Investments Co. Ltd. lifted its position in Baidu by 1,377.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after purchasing an additional 4,964,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Baidu by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after purchasing an additional 11,658 shares in the last quarter. CoreView Capital Management Ltd lifted its position in Baidu by 2.0% during the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock valued at $106,399,000 after purchasing an additional 25,220 shares in the last quarter. Bank of America Corp DE lifted its position in Baidu by 14.1% during the fourth quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after purchasing an additional 112,680 shares in the last quarter. Finally, RPD Fund Management LLC purchased a new position in Baidu during the fourth quarter valued at $72,245,000.

Baidu Price Performance

Shares of BIDU stock traded up $4.33 during trading hours on Friday, hitting $95.30. The stock had a trading volume of 10,892,708 shares, compared to its average volume of 4,011,723. Baidu, Inc. has a one year low of $74.71 and a one year high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The stock's 50-day moving average price is $88.42 and its two-hundred day moving average price is $88.49. The stock has a market capitalization of $32.92 billion, a price-to-earnings ratio of 8.78 and a beta of 0.34.

Wall Street Analyst Weigh In

BIDU has been the topic of several analyst reports. Benchmark lowered their target price on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, August 21st. Macquarie restated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Jefferies Financial Group lowered their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Citigroup boosted their price objective on Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Barclays lowered their price objective on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $102.75.

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.