The Manufacturers Life Insurance Company Boosts Holdings in Baidu, Inc. (NASDAQ:BIDU)

The Manufacturers Life Insurance Company increased its stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,936 shares of the information services provider's stock after buying an additional 49,329 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Baidu worth $33,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BIDU. Primecap Management Co. CA boosted its holdings in shares of Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider's stock valued at $1,033,238,000 after buying an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider's stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider's stock valued at $51,192,000 after purchasing an additional 295,700 shares in the last quarter. XY Capital Ltd purchased a new position in shares of Baidu during the second quarter valued at approximately $23,880,000. Finally, Shah Capital Management bought a new stake in shares of Baidu in the 2nd quarter worth approximately $14,269,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BIDU. Mizuho reduced their price objective on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Dbs Bank lowered Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. HSBC downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a research report on Tuesday, September 24th. Loop Capital decreased their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, August 26th. Finally, Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $113.75.

Baidu Stock Performance

BIDU traded up $0.23 during mid-day trading on Friday, reaching $85.05. 2,495,743 shares of the company traded hands, compared to its average volume of 3,630,001. The company's fifty day moving average price is $93.57 and its 200-day moving average price is $91.63. The stock has a market capitalization of $29.82 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.11 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 52-week low of $78.95 and a 52-week high of $120.25.

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.