State Street Corp lessened its position in Baidu, Inc. (NASDAQ:BIDU) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,016,421 shares of the information services provider’s stock after selling 102,459 shares during the period. State Street Corp owned about 1.74% of Baidu worth $761,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mondrian Investment Partners LTD acquired a new stake in Baidu during the 2nd quarter valued at approximately $208,226,000. Acadian Asset Management LLC grew its holdings in Baidu by 31.7% in the 3rd quarter. Acadian Asset Management LLC now owns 3,193,827 shares of the information services provider’s stock valued at $404,309,000 after buying an additional 768,315 shares during the period. LSV Asset Management grew its holdings in Baidu by 2,999.2% in the 2nd quarter. LSV Asset Management now owns 767,045 shares of the information services provider’s stock valued at $91,961,000 after buying an additional 742,295 shares during the period. Canada Pension Plan Investment Board grew its holdings in Baidu by 339.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 780,682 shares of the information services provider’s stock valued at $93,596,000 after buying an additional 603,065 shares during the period. Finally, ARGA Investment Management LP grew its holdings in Baidu by 79.6% in the 3rd quarter. ARGA Investment Management LP now owns 1,297,964 shares of the information services provider’s stock valued at $164,309,000 after buying an additional 575,332 shares during the period. Hedge funds and other institutional investors own 49.22% of the company’s stock.

Shares of Baidu stock opened at $136.11 on Friday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.35. The firm has a market cap of $47.07 billion, a price-to-earnings ratio of 13.69 and a beta of 1.11. The business has a fifty day simple moving average of $134.32 and a 200-day simple moving average of $122.52. Baidu, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $151.18.

Several research firms have recently weighed in on BIDU. Zacks Investment Research raised Baidu from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research note on Friday. Barclays lifted their price objective on Baidu from $170.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho lifted their price objective on Baidu from $170.00 to $185.00 in a research note on Tuesday, November 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $130.00 price objective (down from $140.00) on shares of Baidu in a research note on Tuesday, September 8th. Finally, Benchmark lifted their price objective on Baidu from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, November 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $157.50.

Baidu Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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