Guggenheim Capital LLC Purchases 2,274 Shares of Baidu, Inc. (NASDAQ:BIDU)

Guggenheim Capital LLC raised its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 55.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,343 shares of the information services provider’s stock after acquiring an additional 2,274 shares during the period. Guggenheim Capital LLC’s holdings in Baidu were worth $957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Ariel Investments LLC boosted its stake in shares of Baidu by 9.7% during the fourth quarter. Ariel Investments LLC now owns 2,852,898 shares of the information services provider’s stock valued at $326,314,000 after purchasing an additional 251,451 shares during the period. Morgan Stanley boosted its stake in shares of Baidu by 88.2% during the fourth quarter. Morgan Stanley now owns 2,631,331 shares of the information services provider’s stock valued at $300,972,000 after purchasing an additional 1,232,917 shares during the period. Alkeon Capital Management LLC lifted its stake in Baidu by 28.2% in the fourth quarter. Alkeon Capital Management LLC now owns 2,526,264 shares of the information services provider’s stock worth $288,954,000 after acquiring an additional 555,221 shares during the period. Axiom Investors LLC DE grew its holdings in Baidu by 66.6% during the 4th quarter. Axiom Investors LLC DE now owns 2,468,502 shares of the information services provider’s stock worth $282,347,000 after acquiring an additional 986,939 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Baidu by 27.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,826,385 shares of the information services provider’s stock worth $208,902,000 after acquiring an additional 390,248 shares in the last quarter. Institutional investors own 21.22% of the company’s stock.

Baidu Trading Up 2.5 %

Shares of BIDU opened at $146.47 on Monday. Baidu, Inc. has a 52-week low of $73.58 and a 52-week high of $160.88. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $142.19 and its two-hundred day moving average is $137.83. The stock has a market cap of $50.61 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 0.33 and a beta of 0.71.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BIDU shares. Bank of America dropped their target price on shares of Baidu from $228.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Morgan Stanley upgraded shares of Baidu from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $160.00 to $190.00 in a report on Tuesday, June 20th. OTR Global cut shares of Baidu to a “positive” rating in a report on Thursday, July 27th. Citigroup raised their price target on shares of Baidu from $181.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Finally, Benchmark restated a “buy” rating and issued a $210.00 price target on shares of Baidu in a report on Thursday. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $187.06.

About Baidu

Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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.