State of New Jersey Common Pension Fund D Acquires Shares of 20,065 Baidu, Inc. $BIDU

State of New Jersey Common Pension Fund D purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,065 shares of the information services provider’s stock, valued at approximately $2,644,000.

A number of other institutional investors and hedge funds have also modified their holdings of BIDU. Voya Investment Management LLC acquired a new stake in Baidu in the third quarter worth approximately $2,027,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Baidu by 11.9% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 169,775 shares of the information services provider’s stock valued at $14,560,000 after purchasing an additional 18,042 shares during the period. Monaco Asset Management SAM raised its stake in shares of Baidu by 14.7% in the 2nd quarter. Monaco Asset Management SAM now owns 282,500 shares of the information services provider’s stock worth $24,227,000 after buying an additional 36,129 shares in the last quarter. Marathon Trading Investment Management LLC lifted its holdings in shares of Baidu by 64.1% in the second quarter. Marathon Trading Investment Management LLC now owns 6,400 shares of the information services provider’s stock valued at $549,000 after buying an additional 2,500 shares during the period. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of Baidu by 36.7% in the third quarter. Greenwood Capital Associates LLC now owns 53,291 shares of the information services provider’s stock valued at $7,022,000 after buying an additional 14,315 shares during the period.

Analyst Ratings Changes

A number of research firms recently issued reports on BIDU. Bank of America lifted their target price on Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Nomura lifted their price objective on shares of Baidu from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $188.00 in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised Baidu from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and an average price target of $159.94.

Baidu Price Performance

BIDU stock opened at $135.86 on Friday. Baidu, Inc. has a one year low of $74.71 and a one year high of $165.30. The firm has a 50-day moving average of $141.13 and a two-hundred day moving average of $124.84. The firm has a market capitalization of $46.93 billion, a PE ratio of 45.14 and a beta of 0.32. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

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.