FIL Ltd Grows Stock Position in Baidu, Inc. (NASDAQ:BIDU)

FIL Ltd increased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 367.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 599,918 shares of the information services provider's stock after acquiring an additional 471,497 shares during the period. FIL Ltd owned about 0.17% of Baidu worth $50,579,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Baidu by 67.2% in the third quarter. FMR LLC now owns 11,781 shares of the information services provider's stock valued at $1,240,000 after purchasing an additional 4,734 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of Baidu in the 3rd quarter worth $201,000. Stifel Financial Corp grew its position in shares of Baidu by 82.5% during the 3rd quarter. Stifel Financial Corp now owns 75,546 shares of the information services provider's stock worth $7,954,000 after buying an additional 34,145 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Baidu in the third quarter valued at about $2,511,000. Finally, National Bank of Canada FI raised its holdings in shares of Baidu by 10.8% in the third quarter. National Bank of Canada FI now owns 118,886 shares of the information services provider's stock valued at $12,518,000 after acquiring an additional 11,634 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Mizuho lifted their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Nomura Securities lowered Baidu from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 19th. Daiwa Capital Markets reiterated an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Finally, StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Baidu currently has a consensus rating of "Hold" and an average price target of $111.25.

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Baidu Stock Performance

Shares of BIDU stock traded down $0.45 during mid-day trading on Tuesday, hitting $84.79. 1,444,677 shares of the stock were exchanged, compared to its average volume of 4,172,363. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $116.25. The stock's fifty day simple moving average is $90.53 and its two-hundred day simple moving average is $89.87. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 2.96 and a beta of 0.33.

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.