Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS grew its holdings in Baidu, Inc. (NASDAQ:BIDUGet Rating) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,069 shares of the information services provider’s stock after acquiring an additional 1,083 shares during the quarter. DnB Asset Management AS’s holdings in Baidu were worth $1,943,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hardy Reed LLC acquired a new stake in shares of Baidu during the first quarter worth about $30,000. Trustcore Financial Services LLC lifted its holdings in shares of Baidu by 342.5% during the first quarter. Trustcore Financial Services LLC now owns 323 shares of the information services provider’s stock worth $43,000 after purchasing an additional 250 shares during the period. FourThought Financial LLC lifted its holdings in shares of Baidu by 61.7% during the first quarter. FourThought Financial LLC now owns 359 shares of the information services provider’s stock worth $47,000 after purchasing an additional 137 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Baidu during the first quarter worth about $52,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Baidu during the first quarter worth about $60,000. Institutional investors and hedge funds own 26.55% of the company’s stock.

Baidu Stock Down 5.2 %

Shares of BIDU opened at $119.57 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. Baidu, Inc. has a one year low of $101.62 and a one year high of $182.60. The stock has a market capitalization of $41.32 billion, a price-to-earnings ratio of -20.87, a PEG ratio of 0.95 and a beta of 0.66. The stock has a 50 day moving average price of $137.05 and a 200 day moving average price of $136.19.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIDU. Macquarie began coverage on Baidu in a research report on Tuesday, August 23rd. They set an “outperform” rating and a $188.00 price target for the company. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $160.00 to $200.00 in a research report on Wednesday, August 31st. Susquehanna reduced their price target on Baidu from $200.00 to $195.00 and set a “positive” rating for the company in a research report on Monday, September 12th. UBS Group began coverage on Baidu in a research report on Friday, September 16th. They set a “buy” rating for the company. Finally, Susquehanna Bancshares reduced their price target on Baidu from $200.00 to $195.00 and set a “positive” rating for the company in a research report on Monday, September 12th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $217.87.

About Baidu

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Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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