Strs Ohio Takes Position in Baidu, Inc. $BIDU

Key Points

• Strs Ohio has acquired a new stake in Baidu, Inc. with a purchase of 19,371 shares valued at approximately $1.78 million during the first quarter.
• Several institutional investors have also increased their positions in Baidu, with Nuveen Asset Management raising its holdings by 19.4% to 166,858 shares valued at $14.07 million.
• Analysts have mixed reviews for Baidu, with a consensus price target of $110.00 and ratings varying from Buy to Sell, reflecting a cautious outlook on the stock's performance.

Strs Ohio bought a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,371 shares of the information services provider's stock, valued at approximately $1,783,000.

A number of other institutional investors have also modified their holdings of BIDU. Creekmur Asset Management LLC purchased a new stake in shares of Baidu in the first quarter valued at approximately $29,000. Assetmark Inc. increased its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. raised its holdings in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after purchasing an additional 179 shares in the last quarter. CX Institutional bought a new stake in shares of Baidu in the 1st quarter valued at about $49,000. Finally, Silver Oak Securities Incorporated bought a new position in shares of Baidu during the first quarter valued at approximately $97,000.

Analyst Ratings Changes

A number of brokerages recently commented on BIDU. Jefferies Financial Group boosted their price objective on shares of Baidu from $108.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday. Zephirin Group began coverage on Baidu in a research report on Monday. They issued a "sell" rating and a $92.00 price target for the company. Wall Street Zen downgraded Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Zacks Research upgraded Baidu from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Finally, Citigroup increased their price target on shares of Baidu from $138.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $114.27.

Baidu Stock Up 0.2%

Shares of BIDU traded up $0.33 during mid-day trading on Friday, hitting $135.58. 4,129,836 shares of the company traded hands, compared to its average volume of 4,729,695. The company has a market capitalization of $46.84 billion, a PE ratio of 12.51 and a beta of 0.34. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $95.08 and a 200 day moving average of $90.44. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $138.18.

Baidu 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.