Sumitomo Mitsui Trust Group Inc. Invests $13.96 Million in Baidu, Inc. (NASDAQ:BIDU)

Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 151,733 shares of the information services provider’s stock, valued at approximately $13,964,000.

Several other hedge funds have also bought and sold shares of BIDU. UMB Bank n.a. boosted its holdings in Baidu by 80.3% in the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 179 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in Baidu in the fourth quarter valued at $42,000. CX Institutional bought a new stake in Baidu in the first quarter valued at $49,000. GeoWealth Management LLC boosted its holdings in Baidu by 88.5% in the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 308 shares in the last quarter. Finally, Investors Research Corp boosted its holdings in shares of Baidu by 20.5% during the 1st quarter. Investors Research Corp now owns 1,760 shares of the information services provider’s stock valued at $162,000 after buying an additional 300 shares in the last quarter.

Baidu Trading Down 0.1%

NASDAQ:BIDU opened at $86.37 on Friday. The stock’s 50 day moving average price is $86.86 and its 200 day moving average price is $87.64. The company has a market capitalization of $29.83 billion, a PE ratio of 8.57 and a beta of 0.33. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. Baidu, Inc. has a 52-week low of $74.71 and a 52-week high of $116.25.

Analyst Ratings Changes

BIDU has been the topic of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Barclays set a $84.00 target price on shares of Baidu and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Macquarie reiterated a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Citigroup dropped their price target on shares of Baidu from $139.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Finally, Benchmark dropped their price target on shares of Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Baidu has a consensus rating of “Hold” and an average target price of $107.82.

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.