Mackenzie Financial Corp Raises Holdings in Baidu, Inc. (NASDAQ:BIDU)

Mackenzie Financial Corp increased its holdings in Baidu, Inc. (NASDAQ:BIDU) by 103.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 58,900 shares of the information services provider’s stock after acquiring an additional 29,964 shares during the period. Mackenzie Financial Corp’s holdings in Baidu were worth $5,421,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in shares of Baidu by 5.9% during the fourth quarter. LPL Financial LLC now owns 74,597 shares of the information services provider’s stock worth $6,289,000 after buying an additional 4,178 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Baidu by 23.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,679 shares of the information services provider’s stock worth $816,000 after buying an additional 1,817 shares during the period. Geode Capital Management LLC boosted its position in shares of Baidu by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 120,628 shares of the information services provider’s stock worth $10,170,000 after buying an additional 1,020 shares during the period. Pitcairn Co. boosted its position in shares of Baidu by 45.3% during the fourth quarter. Pitcairn Co. now owns 7,322 shares of the information services provider’s stock worth $617,000 after buying an additional 2,283 shares during the period. Finally, Annandale Capital LLC boosted its position in shares of Baidu by 97.8% during the fourth quarter. Annandale Capital LLC now owns 40,032 shares of the information services provider’s stock worth $3,375,000 after buying an additional 19,793 shares during the period.

Analysts Set New Price Targets

BIDU has been the topic of several analyst reports. Citigroup increased their price objective on Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Barclays reduced their price objective on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Macquarie reiterated a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Jefferies Financial Group reduced their price objective on Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Benchmark cut their price target on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $105.09.

Baidu Stock Performance

NASDAQ BIDU opened at $86.13 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25. The business’s 50-day moving average price is $86.85 and its 200 day moving average price is $88.26. The firm has a market cap of $29.75 billion, a P/E ratio of 8.54 and a beta of 0.34.

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.