Baidu, Inc. (NASDAQ:BIDU) Stake Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,560 shares of the information services provider’s stock after acquiring an additional 201 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baidu were worth $186,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. ANTIPODES PARTNERS Ltd increased its holdings in Baidu by 25.7% in the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock valued at $175,187,000 after buying an additional 270,187 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Baidu by 15.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after buying an additional 238,374 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Baidu by 63.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 288,573 shares of the information services provider’s stock valued at $38,770,000 after buying an additional 111,755 shares during the period. CI Investments Inc. acquired a new stake in Baidu during the third quarter worth about $14,916,000. Finally, International Assets Investment Management LLC bought a new position in shares of Baidu during the fourth quarter valued at approximately $12,225,000.

Baidu Trading Down 2.5 %

Shares of Baidu stock opened at $110.53 on Wednesday. The business has a fifty day simple moving average of $103.03 and a 200-day simple moving average of $108.09. Baidu, Inc. has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The firm has a market cap of $38.76 billion, a price-to-earnings ratio of 14.32 and a beta of 0.68. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BIDU shares. Citigroup cut their price target on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. HSBC reduced 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. Barclays dropped their price objective on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Benchmark reduced their target price on shares of Baidu from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Monday. Finally, StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

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.