Nan Fung Trinity HK Ltd. grew its position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 654,521 shares of the information services provider's stock after purchasing an additional 52,800 shares during the quarter. Baidu makes up about 16.2% of Nan Fung Trinity HK Ltd.'s holdings, making the stock its largest position. Nan Fung Trinity HK Ltd.'s holdings in Baidu were worth $77,947,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in BIDU. National Bank of Canada FI grew its position in Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider's stock worth $103,953,000 after purchasing an additional 900,284 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in shares of Baidu by 25.7% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider's stock worth $175,187,000 after buying an additional 270,187 shares during the last quarter. Federated Hermes Inc. increased its position in Baidu by 15.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider's stock valued at $241,076,000 after acquiring an additional 238,374 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Baidu by 63.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 288,573 shares of the information services provider's stock valued at $38,770,000 after acquiring an additional 111,755 shares during the last quarter. Finally, CI Investments Inc. acquired a new stake in Baidu during the 3rd quarter worth approximately $14,916,000.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BIDU. HSBC dropped their target price on Baidu from $157.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, April 24th. Citigroup cut their price objective on shares of Baidu from $181.00 to $176.00 and set a "buy" rating for the company in a research report on Tuesday, April 9th. Barclays reduced their target price on shares of Baidu from $138.00 to $133.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. Benchmark dropped their price target on shares of Baidu from $210.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday. Finally, StockNews.com downgraded shares of Baidu from a "buy" rating to a "hold" rating in a research report on Saturday, March 23rd. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $169.50.
Read Our Latest Stock Report on Baidu
Baidu Price Performance
BIDU traded up $1.27 during trading on Thursday, reaching $110.87. 1,401,418 shares of the stock were exchanged, compared to its average volume of 3,385,113. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.01 and a quick ratio of 3.01. The company has a market capitalization of $38.88 billion, a price-to-earnings ratio of 14.36 and a beta of 0.68. Baidu, Inc. has a 1 year low of $94.25 and a 1 year high of $156.98. The business's 50 day moving average price is $103.34 and its two-hundred day moving average price is $108.12.
About Baidu
(
Free Report)
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.
Featured Articles
Before you consider Baidu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Baidu wasn't on the list.
While Baidu currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
