Sumitomo Mitsui Trust Group Inc. Acquires Shares of 151,733 Baidu, Inc. (NASDAQ:BIDU)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 151,733 shares of the information services provider's stock, valued at approximately $13,964,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIDU. US Bancorp DE lifted its holdings in shares of Baidu by 7.2% during the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider's stock worth $340,000 after acquiring an additional 270 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Baidu by 31.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,159 shares of the information services provider's stock worth $351,000 after acquiring an additional 1,002 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Baidu during the 4th quarter worth approximately $3,497,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Baidu during the 4th quarter worth approximately $256,000. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Baidu during the 4th quarter worth approximately $961,000.

Baidu Trading Down 0.1%

Shares of BIDU traded down $0.08 during trading hours on Friday, hitting $86.37. 1,167,623 shares of the stock were exchanged, compared to its average volume of 4,089,671. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.29 and a quick ratio of 2.29. The business has a 50-day moving average of $86.77 and a 200-day moving average of $87.61. The firm has a market capitalization of $29.83 billion, a P/E ratio of 8.57 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BIDU shares. Benchmark lowered their price objective on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Barclays set a $84.00 price objective on shares of Baidu and gave the stock an "equal weight" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Finally, Citigroup lowered their price objective on shares of Baidu from $139.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Baidu presently has a consensus rating of "Hold" and a consensus target price of $107.82.

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.