Baidu, Inc. (NASDAQ:BIDU) Stake Boosted by Pitcairn Co.

Pitcairn Co. grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 45.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,322 shares of the information services provider’s stock after purchasing an additional 2,283 shares during the period. Pitcairn Co.’s holdings in Baidu were worth $617,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its stake in Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after acquiring an additional 227,338 shares during the period. World Investment Advisors LLC bought a new position in shares of Baidu during the third quarter valued at approximately $72,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Baidu during the 4th quarter worth approximately $558,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Baidu by 1,111.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after purchasing an additional 330,627 shares during the last quarter. Finally, Ping Capital Management Inc. boosted its position in Baidu by 300.0% during the 4th quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider’s stock valued at $843,000 after purchasing an additional 7,500 shares during the period.

Analysts Set New Price Targets

A number of research firms have issued reports on BIDU. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Nomura cut Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research report on Wednesday, February 19th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Baidu presently has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Down 8.2 %

BIDU stock opened at $82.43 on Friday. The firm has a market cap of $28.90 billion, a PE ratio of 8.99, a P/E/G ratio of 2.96 and a beta of 0.33. Baidu, Inc. has a 12 month low of $77.20 and a 12 month high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The firm has a 50 day simple moving average of $92.19 and a 200 day simple moving average of $90.54.

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.