New York State Common Retirement Fund Purchases 9,800 Shares of Baidu, Inc. (NASDAQ:BIDU)

New York State Common Retirement Fund raised its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,877 shares of the information services provider’s stock after purchasing an additional 9,800 shares during the period. New York State Common Retirement Fund’s holdings in Baidu were worth $7,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its stake in Baidu by 54.5% in the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock worth $10,159,000 after acquiring an additional 30,103 shares during the period. Waterfront Wealth Inc. raised its holdings in Baidu by 23.7% in the 4th quarter. Waterfront Wealth Inc. now owns 11,841 shares of the information services provider’s stock worth $1,410,000 after purchasing an additional 2,265 shares in the last quarter. Rakuten Securities Inc. bought a new position in Baidu in the 4th quarter worth $258,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Baidu by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock valued at $186,000 after purchasing an additional 201 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Baidu by 49.8% during the fourth quarter. Mackenzie Financial Corp now owns 3,844 shares of the information services provider’s stock valued at $458,000 after buying an additional 1,278 shares during the period.

Wall Street Analyst Weigh In

BIDU has been the topic of a number of research analyst reports. Citigroup reduced their target price on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Barclays lowered their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, HSBC decreased their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus target price of $171.64.

Baidu Stock Up 1.5 %

Shares of Baidu stock opened at $113.41 on Friday. The company has a 50-day simple moving average of $102.97 and a two-hundred day simple moving average of $108.23. Baidu, Inc. has a 52-week low of $94.25 and a 52-week high of $156.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. The stock has a market capitalization of $39.77 billion, a PE ratio of 14.69 and a beta of 0.68.

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.