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Bridgewater Associates LP Buys Shares of 114,284 Baidu, Inc. (NASDAQ:BIDU)

Baidu logo with Computer and Technology background

Bridgewater Associates LP purchased a new position in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 114,284 shares of the information services provider's stock, valued at approximately $12,033,000.

Several other institutional investors have also modified their holdings of the business. Guinness Asset Management LTD increased its holdings in Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider's stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after buying an additional 130 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Baidu by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider's stock valued at $297,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. boosted its stake in Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider's stock valued at $180,000 after acquiring an additional 171 shares during the last quarter. Finally, Intellectus Partners LLC boosted its stake in Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock valued at $1,741,000 after acquiring an additional 250 shares during the last quarter.

Analysts Set New Price Targets

BIDU has been the topic of a number of recent analyst reports. Bank of America cut their target price on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. StockNews.com upgraded Baidu from a "hold" rating to a "buy" rating in a research note on Tuesday. Susquehanna lowered Baidu from a "positive" rating to a "neutral" rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Monday. Loop Capital lowered their price target on 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 cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $113.75.

Read Our Latest Analysis on BIDU

Baidu Stock Performance

Shares of BIDU stock traded up $0.23 during trading hours on Friday, reaching $85.05. The stock had a trading volume of 2,495,743 shares, compared to its average volume of 3,630,001. The firm has a market capitalization of $29.82 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.51. The firm has a 50-day simple moving average of $93.59 and a 200-day simple moving average of $91.94. Baidu, Inc. has a twelve month low of $78.95 and a twelve month high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

About Baidu

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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