Federated Hermes Inc. Buys 67,331 Shares of Baidu, Inc. (NASDAQ:BIDU)

Federated Hermes Inc. lifted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,884,556 shares of the information services provider’s stock after buying an additional 67,331 shares during the quarter. Federated Hermes Inc. owned about 0.54% of Baidu worth $162,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BIDU. ARGA Investment Management LP grew its holdings in shares of Baidu by 6.5% during the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after acquiring an additional 62,830 shares during the period. Canada Pension Plan Investment Board raised its holdings in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Baidu by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock valued at $107,107,000 after buying an additional 84,776 shares during the period. Sanders Capital LLC boosted its holdings in shares of Baidu by 7.1% during the 4th quarter. Sanders Capital LLC now owns 670,604 shares of the information services provider’s stock valued at $79,862,000 after buying an additional 44,571 shares in the last quarter. Finally, Contrarius Investment Management Ltd grew its position in shares of Baidu by 14.2% in the 4th quarter. Contrarius Investment Management Ltd now owns 587,487 shares of the information services provider’s stock worth $69,964,000 after buying an additional 72,825 shares during the period.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $84.07 on Friday. The firm’s 50-day moving average price is $87.46 and its 200-day moving average price is $96.10. Baidu, Inc. has a 52-week low of $79.68 and a 52-week high of $139.32. The company has a market cap of $29.48 billion, a PE ratio of 11.25 and a beta of 0.48. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BIDU shares. Citigroup lowered their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Barclays lowered their target price on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $135.13.

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.