Baidu, Inc. (NASDAQ:BIDU) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 54.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,306 shares of the information services provider's stock after acquiring an additional 30,103 shares during the period. Jennison Associates LLC's holdings in Baidu were worth $10,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIDU. Bruce G. Allen Investments LLC purchased a new stake in shares of Baidu during the 4th quarter valued at approximately $25,000. Headinvest LLC purchased a new stake in shares of Baidu during the 3rd quarter valued at approximately $36,000. FNY Investment Advisers LLC purchased a new stake in shares of Baidu during the 4th quarter valued at approximately $42,000. ING Groep NV lifted its stake in shares of Baidu by 103.2% during the 3rd quarter. ING Groep NV now owns 443 shares of the information services provider's stock valued at $60,000 after buying an additional 225 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Baidu during the 3rd quarter valued at $73,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIDU. Barclays lowered their price objective on shares of Baidu from $138.00 to $133.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a report on Saturday, March 23rd. Citigroup reduced their target price on shares of Baidu from $181.00 to $176.00 and set a "buy" rating on the stock in a report on Tuesday, April 9th. Finally, HSBC reduced their target price on shares of Baidu from $157.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $171.64.

Baidu Trading Up 0.6 %

Shares of NASDAQ BIDU traded up $0.62 during midday trading on Friday, hitting $100.52. 4,812,177 shares of the company traded hands, compared to its average volume of 3,332,355. Baidu, Inc. has a 12-month low of $94.25 and a 12-month high of $156.98. The firm has a market cap of $35.25 billion, a P/E ratio of 12.94 and a beta of 0.68. The stock has a 50-day moving average price of $103.19 and a 200 day moving average price of $109.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01.

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.