Pitcairn Co. Makes New Investment in Baidu, Inc. (NASDAQ:BIDU)

Pitcairn Co. acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,079 shares of the information services provider’s stock, valued at approximately $535,000.

Several other large investors have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd increased its position in Baidu by 8.8% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after buying an additional 116,047 shares during the period. RWC Asset Advisors US LLC increased its position in shares of Baidu by 5.3% in the fourth quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after purchasing an additional 58,686 shares during the period. ARGA Investment Management LP increased its position in shares of Baidu by 6.5% in the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after purchasing an additional 62,830 shares during the period. National Bank of Canada FI increased its position in shares of Baidu by 90,390.0% in the fourth 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 period. Finally, Sanders Capital LLC increased its position in shares of Baidu by 7.1% in the fourth quarter. Sanders Capital LLC now owns 670,604 shares of the information services provider’s stock worth $79,862,000 after purchasing an additional 44,571 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Benchmark restated a “buy” rating and issued a $180.00 price target on shares of Baidu in a research report on Friday, May 17th. Barclays decreased their price target on Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Susquehanna decreased their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Bank of America decreased their target price on Baidu from $140.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.60.

Baidu Stock Performance

Shares of BIDU stock opened at $87.79 on Friday. The business’s 50-day moving average price is $94.12 and its 200-day moving average price is $101.46. Baidu, Inc. has a 12 month low of $85.08 and a 12 month high of $156.98. The firm has a market capitalization of $30.78 billion, a price-to-earnings ratio of 11.75 and a beta of 0.49. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

About Baidu

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.