Public Employees Retirement System of Ohio Takes $5.01 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Public Employees Retirement System of Ohio purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,577 shares of the information services provider's stock, valued at approximately $5,009,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its stake in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider's stock valued at $1,276,521,000 after purchasing an additional 176,150 shares during the period. Sanders Capital LLC raised its position in shares of Baidu by 0.7% in the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider's stock worth $274,357,000 after acquiring an additional 18,334 shares during the period. Federated Hermes Inc. boosted its stake in shares of Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider's stock worth $162,976,000 after acquiring an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider's stock valued at $116,263,000 after acquiring an additional 14,878 shares during the period. Finally, CoreView Capital Management Ltd increased its stake in shares of Baidu by 15.6% in the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider's stock valued at $130,221,000 after purchasing an additional 166,618 shares in the last quarter.

Baidu Trading Up 0.6 %

Shares of BIDU traded up $0.50 during midday trading on Friday, reaching $90.82. The company had a trading volume of 2,420,958 shares, compared to its average volume of 3,601,490. Baidu, Inc. has a 1-year low of $78.95 and a 1-year high of $120.25. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $90.51 and a 200-day simple moving average of $90.39. The stock has a market cap of $31.85 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Loop Capital dropped their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Bank of America cut their price target on shares of Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Mizuho decreased their price objective on shares of Baidu from $130.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. Dbs Bank cut shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Finally, StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Baidu currently has an average rating of "Hold" and a consensus price target of $113.75.

Baidu Profile

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.