Sumitomo Mitsui Trust Group Inc. Buys 145,214 Shares of Baidu, Inc. $BIDU

Sumitomo Mitsui Trust Group Inc. boosted its stake in Baidu, Inc. (NASDAQ:BIDU) by 85.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 314,989 shares of the information services provider’s stock after buying an additional 145,214 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.09% of Baidu worth $41,506,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIDU. Blue Trust Inc. grew its position in shares of Baidu by 2.0% in the third quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock valued at $577,000 after purchasing an additional 85 shares during the last quarter. Silver Oak Securities Incorporated grew its holdings in Baidu by 4.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock valued at $391,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC increased its position in Baidu by 17.0% during the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider’s stock worth $80,000 after buying an additional 136 shares during the period. Redwood Wealth Management Group LLC lifted its holdings in shares of Baidu by 3.8% during the second quarter. Redwood Wealth Management Group LLC now owns 4,117 shares of the information services provider’s stock worth $353,000 after buying an additional 150 shares in the last quarter. Finally, CX Institutional boosted its position in shares of Baidu by 34.1% in the second quarter. CX Institutional now owns 715 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 182 shares during the period.

Baidu Stock Down 0.7%

NASDAQ BIDU opened at $149.40 on Friday. The business has a fifty day moving average price of $127.34 and a two-hundred day moving average price of $113.89. The stock has a market capitalization of $51.61 billion, a PE ratio of 49.63 and a beta of 0.30. Baidu, Inc. has a fifty-two week low of $74.71 and a fifty-two week high of $154.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIDU shares. Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Benchmark reiterated a “buy” rating on shares of Baidu in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Baidu in a research report on Monday, December 29th. CLSA raised Baidu to a “strong-buy” rating in a report on Monday, September 22nd. Finally, Barclays upped their target price on Baidu from $81.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $151.06.

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.