Sumitomo Mitsui Trust Group Inc. cut its position in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 15.2% during the first quarter, HoldingsChannel.com reports. The fund owned 567,778 shares of the information services provider’s stock after selling 101,841 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Baidu were worth $63,262,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Morgan Stanley raised its stake in Baidu by 38.0% in the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares during the last quarter. RPD Fund Management LLC boosted its stake in Baidu by 161.6% during the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Capital World Investors grew its holdings in shares of Baidu by 21.0% during the fourth quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after buying an additional 205,040 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of Baidu by 127.8% during the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after buying an additional 649,490 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Baidu by 106.7% in the third quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after buying an additional 582,832 shares during the last quarter.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Weiss Ratings downgraded shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Morgan Stanley increased their price target on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. Finally, Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $162.58.
Baidu Trading Up 0.0%
Baidu stock traded up $0.02 during mid-day trading on Friday, hitting $117.53. The company’s stock had a trading volume of 1,308,366 shares, compared to its average volume of 2,070,458. The firm has a market capitalization of $39.99 billion, a PE ratio of -979.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56. Baidu, Inc. has a 1 year low of $84.64 and a 1 year high of $165.30. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $124.22 and its two-hundred day moving average is $128.66.
Baidu 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.
Featured Articles
- Five stocks we like better than Baidu
- 3 Rare-Earth ETFs That Help Investors Balance Exposure and Risk
- Microsoft Bets on In-House AI to Cut OpenAI and Anthropic Costs
- Delta Air Lines Lives Up to Its Claims: Shares Can Keep Climbing
- This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDU – Free Report).
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.
