Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by abrdn plc

abrdn plc raised its holdings in shares of Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,151 shares of the information services provider’s stock after acquiring an additional 1,370 shares during the period. abrdn plc’s holdings in Baidu were worth $932,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BIDU. Axiom Investors LLC DE lifted its stake in shares of Baidu by 66.6% in the 4th quarter. Axiom Investors LLC DE now owns 2,468,502 shares of the information services provider’s stock valued at $282,347,000 after purchasing an additional 986,939 shares during the period. FengHe Fund Management Pte. Ltd. purchased a new stake in Baidu in the 4th quarter worth $61,205,000. Robeco Institutional Asset Management B.V. purchased a new stake in Baidu in the 4th quarter worth $51,993,000. Renaissance Technologies LLC increased its holdings in Baidu by 5,704.3% in the 1st quarter. Renaissance Technologies LLC now owns 409,900 shares of the information services provider’s stock worth $54,230,000 after acquiring an additional 402,838 shares in the last quarter. Finally, Strategic Vision Investment Ltd purchased a new stake in Baidu in the 4th quarter worth $44,041,000. 23.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a report on Thursday. OTR Global raised shares of Baidu to a “positive” rating in a report on Thursday, May 11th. HSBC upped their target price on shares of Baidu from $165.00 to $168.00 in a report on Wednesday, May 17th. UBS Group dropped their target price on shares of Baidu from $185.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 21st. Finally, Susquehanna upped their price objective on shares of Baidu from $150.00 to $175.00 and gave the company a “positive” rating in a report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $185.00.

Baidu Trading Down 2.0 %

NASDAQ BIDU opened at $119.11 on Thursday. The firm’s 50-day moving average is $133.50 and its two-hundred day moving average is $127.63. Baidu, Inc. has a 12 month low of $73.58 and a 12 month high of $160.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.94 and a quick ratio of 2.94. The stock has a market capitalization of $41.16 billion, a P/E ratio of 21.04, a PEG ratio of 0.31 and a beta of 0.67.

Baidu announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 22nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Baidu Company Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.