Allianz Asset Management GmbH Has $6.95 Million Stock Position in Baidu, Inc. $BIDU

Allianz Asset Management GmbH lowered its position in Baidu, Inc. (NASDAQ:BIDU) by 6.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,770 shares of the information services provider’s stock after selling 3,500 shares during the period. Allianz Asset Management GmbH’s holdings in Baidu were worth $6,954,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BIDU. Binnacle Investments Inc bought a new position in shares of Baidu in the 2nd quarter worth $29,000. UMB Bank n.a. raised its holdings in Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after buying an additional 134 shares during the last quarter. Winthrop Capital Management LLC bought a new position in shares of Baidu in the second quarter valued at $39,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Baidu during the second quarter valued at about $43,000. Finally, Assetmark Inc. increased its position in shares of Baidu by 127.6% during the second quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock worth $64,000 after acquiring an additional 416 shares in the last quarter.

Baidu Trading Up 0.7%

Shares of Baidu stock opened at $146.97 on Tuesday. The firm has a market cap of $50.77 billion, a PE ratio of 48.83 and a beta of 0.32. Baidu, Inc. has a 1 year low of $74.71 and a 1 year high of $165.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a fifty day moving average price of $138.34 and a 200-day moving average price of $121.83.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several recent research reports. Zacks Research raised shares of Baidu from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Jefferies Financial Group raised their target price on Baidu from $159.00 to $181.00 and gave the company a “buy” rating in a report on Friday, January 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Morgan Stanley set a $150.00 price objective on shares of Baidu in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average target price of $157.05.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.