iA Global Asset Management Inc. Invests $52,000 in Baidu, Inc. (NASDAQ:BIDU)

iA Global Asset Management Inc. bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 604 shares of the information services provider’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIDU. Nordea Investment Management AB boosted its holdings in shares of Baidu by 14.5% during the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after purchasing an additional 50,599 shares during the last quarter. Trexquant Investment LP purchased a new position in Baidu during the 4th quarter valued at approximately $1,476,000. SRN Advisors LLC increased its stake in Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after acquiring an additional 8,272 shares during the last quarter. Perpetual Ltd raised its holdings in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 45,975 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new position in shares of Baidu during the 4th quarter valued at approximately $11,028,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on BIDU. Benchmark decreased their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Susquehanna decreased their price objective on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Mizuho decreased their price target on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $137.13.

Baidu Trading Up 1.0 %

NASDAQ BIDU opened at $84.62 on Monday. The stock has a market cap of $29.67 billion, a PE ratio of 11.33 and a beta of 0.49. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $151.00. The company’s 50-day moving average price is $88.38 and its 200-day moving average price is $97.59. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

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.