Mirae Asset Global Investments Co. Ltd. Buys 330,627 Shares of Baidu, Inc. (NASDAQ:BIDU)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Baidu, Inc. (NASDAQ:BIDU) by 1,111.3% in the 4th quarter, HoldingsChannel reports. The fund owned 360,378 shares of the information services provider’s stock after purchasing an additional 330,627 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Baidu were worth $30,317,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC acquired a new position in Baidu during the 3rd quarter valued at about $72,000. Grove Bank & Trust raised its stake in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Baidu in the third quarter worth about $82,000. Finally, Denver PWM LLC grew its stake in shares of Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after acquiring an additional 220 shares during the last quarter.

Baidu Stock Down 4.6 %

Baidu stock opened at $88.63 on Thursday. The business’s 50-day moving average price is $85.94 and its 200 day moving average price is $88.56. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a market cap of $31.08 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.46. Baidu, Inc. has a 52 week low of $77.19 and a 52 week high of $116.25.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIDU shares. Citigroup decreased their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $85.00 in a report on Monday, November 25th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.75.

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.