Allspring Global Investments Holdings LLC Purchases 593 Shares of Baidu, Inc. (NASDAQ:BIDU)

Allspring Global Investments Holdings LLC increased its position in Baidu, Inc. (NASDAQ:BIDU) by 630.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 687 shares of the information services provider’s stock after acquiring an additional 593 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Baidu were worth $72,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the period. Federated Hermes Inc. boosted its position in Baidu by 3.7% in the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after buying an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after buying an additional 14,878 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after buying an additional 338,110 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Baidu by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock valued at $107,107,000 after buying an additional 84,776 shares in the last quarter.

Baidu Stock Up 0.5 %

Shares of NASDAQ:BIDU opened at $90.46 on Tuesday. Baidu, Inc. has a 52 week low of $79.68 and a 52 week high of $126.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market capitalization of $31.72 billion, a PE ratio of 11.92 and a beta of 0.51. The company has a 50 day moving average price of $92.77 and a two-hundred day moving average price of $94.18.

Analyst Ratings Changes

A number of equities analysts have commented on BIDU shares. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America reduced their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and a consensus target price of $128.36.

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.