Sumitomo Mitsui Trust Group Inc. Purchases 354,630 Shares of Baidu, Inc. $BIDU

Key Points

• Sumitomo Mitsui Trust Group boosted its Baidu stake by 112.6% in Q4, buying 354,630 shares to hold 669,619 shares—about 0.19% of the company—worth roughly $87.49 million.
• Analysts give Baidu a consensus rating of “Moderate Buy” with a consensus price target of $158.05, based on one Strong Buy, 16 Buy, five Hold and one Sell ratings.
• Baidu shares opened at $118.23 (market cap ~$40.23B) and trade well below the consensus target, with a 52-week range of $81.17 to $165.30 and a P/E of 74.36.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 112.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,619 shares of the information services provider's stock after acquiring an additional 354,630 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Baidu worth $87,492,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keel Point LLC raised its position in Baidu by 1.7% in the third quarter. Keel Point LLC now owns 5,144 shares of the information services provider's stock valued at $678,000 after purchasing an additional 84 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Baidu by 2.0% during the third quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider's stock worth $577,000 after purchasing an additional 85 shares during the last quarter. Signaturefd LLC increased its stake in shares of Baidu by 8.4% in the fourth quarter. Signaturefd LLC now owns 1,276 shares of the information services provider's stock valued at $167,000 after buying an additional 99 shares during the period. State of Wyoming increased its stake in shares of Baidu by 13.2% in the third quarter. State of Wyoming now owns 857 shares of the information services provider's stock valued at $113,000 after buying an additional 100 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Baidu by 11.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider's stock valued at $137,000 after buying an additional 108 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BIDU shares. UBS Group restated a "buy" rating on shares of Baidu in a research report on Wednesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Baidu from $159.00 to $181.00 and gave the stock a "buy" rating in a research note on Friday, January 2nd. Morgan Stanley decreased their price objective on Baidu from $150.00 to $135.00 and set an "equal weight" rating for the company in a report on Friday, February 27th. Benchmark reaffirmed a "buy" rating on shares of Baidu in a research report on Friday, February 20th. Finally, Susquehanna lifted their target price on Baidu from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $158.05.

Baidu Stock Up 5.6%

Baidu stock opened at $118.23 on Wednesday. The firm has a market cap of $40.23 billion, a price-to-earnings ratio of 74.36 and a beta of 0.44. Baidu, Inc. has a 52-week low of $81.17 and a 52-week high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a 50 day moving average price of $123.68 and a two-hundred day moving average price of $128.56.

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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