Van ECK Associates Corp Purchases 11,669 Shares of Baidu, Inc. (NASDAQ:BIDU)

Van ECK Associates Corp boosted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 28.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,137 shares of the information services provider’s stock after purchasing an additional 11,669 shares during the period. Van ECK Associates Corp’s holdings in Baidu were worth $6,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its stake in shares of Baidu by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 347,788 shares of the information services provider’s stock valued at $41,429,000 after acquiring an additional 22,797 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in Baidu by 8.8% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after purchasing an additional 116,047 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Baidu by 54.5% during the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock worth $10,159,000 after purchasing an additional 30,103 shares during the last quarter. Northern Trust Corp increased its stake in shares of Baidu by 1.2% in the third quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock valued at $24,141,000 after buying an additional 2,202 shares in the last quarter. Finally, Black Creek Investment Management Inc. raised its holdings in shares of Baidu by 3.1% in the third quarter. Black Creek Investment Management Inc. now owns 2,089,303 shares of the information services provider’s stock valued at $280,698,000 after buying an additional 63,239 shares during the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of research analyst reports. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. HSBC lowered their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Citigroup reduced their price objective on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, Barclays decreased their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.64.

Baidu Stock Up 1.5 %

Shares of NASDAQ BIDU opened at $113.41 on Friday. The firm has a 50 day moving average price of $103.01 and a 200 day moving average price of $108.15. The stock has a market cap of $39.77 billion, a P/E ratio of 14.69 and a beta of 0.68. Baidu, Inc. has a 52-week low of $94.25 and a 52-week high of $156.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01.

About Baidu

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.