Taikang Asset Management Hong Kong Co Ltd Takes Position in Baidu, Inc. $BIDU

Taikang Asset Management Hong Kong Co Ltd purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,000 shares of the information services provider’s stock, valued at approximately $1,437,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Binnacle Investments Inc purchased a new stake in Baidu during the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC grew its stake in shares of Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Baidu by 35.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 105 shares during the period. UMB Bank n.a. increased its holdings in shares of Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 88 shares during the period. Finally, Winthrop Capital Management LLC purchased a new stake in shares of Baidu during the fourth quarter worth approximately $59,000.

Baidu Trading Down 3.5%

Shares of BIDU stock opened at $112.72 on Wednesday. The business’s fifty day moving average price is $126.84 and its 200 day moving average price is $129.89. The firm has a market capitalization of $38.35 billion, a PE ratio of -939.26, a P/E/G ratio of 1.99 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. Baidu, Inc. has a 1-year low of $83.30 and a 1-year high of $165.30.

Analysts Set New Price Targets

A number of research firms recently weighed in on BIDU. Benchmark reiterated a “buy” rating and issued a $215.00 price objective on shares of Baidu in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Morgan Stanley raised their target price on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Zephirin Group lifted their target price on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Finally, Barclays dropped their price target on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.