Overlook Holdings Ltd raised its position in Baidu Inc (NASDAQ:BIDU) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 749,220 shares of the information services provider’s stock after purchasing an additional 47,425 shares during the period. Baidu accounts for 36.3% of Overlook Holdings Ltd’s investment portfolio, making the stock its 2nd biggest position. Overlook Holdings Ltd’s holdings in Baidu were worth $123,441,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BIDU. Norges Bank purchased a new stake in shares of Baidu during the 4th quarter valued at $526,416,000. Federated Investors Inc. PA raised its position in Baidu by 280,999.1% in the 3rd quarter. Federated Investors Inc. PA now owns 1,250,891 shares of the information services provider’s stock worth $286,054,000 after purchasing an additional 1,250,446 shares during the period. Harris Associates L P raised its position in Baidu by 49.6% in the 4th quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock worth $500,422,000 after purchasing an additional 1,046,123 shares during the period. Bank of Montreal Can raised its position in Baidu by 219.8% in the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after purchasing an additional 544,799 shares during the period. Finally, Investec Asset Management LTD raised its position in Baidu by 23.4% in the 4th quarter. Investec Asset Management LTD now owns 2,551,426 shares of the information services provider’s stock worth $404,656,000 after purchasing an additional 484,147 shares during the period. 61.63% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on BIDU. KeyCorp set a $220.00 target price on shares of Baidu and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. They noted that the move was a valuation call. Daiwa Capital Markets set a $215.00 target price on shares of Baidu and gave the stock a “buy” rating in a research report on Friday, March 8th. ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. BidaskClub cut shares of Baidu from a “hold” rating to a “sell” rating in a research report on Tuesday, April 16th. Finally, Sanford C. Bernstein reiterated a “mkt perform” rating on shares of Baidu in a research report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $235.60.
Shares of BIDU stock traded down $2.98 during mid-day trading on Thursday, reaching $156.60. The stock had a trading volume of 2,129,118 shares, compared to its average volume of 3,032,367. Baidu Inc has a 52-week low of $153.78 and a 52-week high of $284.22. The stock has a market capitalization of $55.98 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 5.05 and a beta of 1.44. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.31.
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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