CIBC Asset Management Inc Has $4.41 Million Stock Position in Baidu, Inc. (NASDAQ:BIDU)

CIBC Asset Management Inc lifted its stake in Baidu, Inc. (NASDAQ:BIDUGet Rating) by 4.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,354 shares of the information services provider’s stock after acquiring an additional 1,513 shares during the period. CIBC Asset Management Inc’s holdings in Baidu were worth $4,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Dodge & Cox boosted its stake in Baidu by 8.6% during the fourth quarter. Dodge & Cox now owns 6,831,355 shares of the information services provider’s stock worth $1,016,437,000 after buying an additional 543,004 shares in the last quarter. State Street Corp boosted its stake in Baidu by 1.4% during the fourth quarter. State Street Corp now owns 5,601,587 shares of the information services provider’s stock worth $833,460,000 after buying an additional 74,626 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Baidu by 0.5% during the first quarter. Baillie Gifford & Co. now owns 3,746,926 shares of the information services provider’s stock worth $495,719,000 after buying an additional 18,238 shares in the last quarter. Black Creek Investment Management Inc. boosted its stake in Baidu by 16.3% during the first quarter. Black Creek Investment Management Inc. now owns 3,301,560 shares of the information services provider’s stock worth $436,796,000 after buying an additional 462,936 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in Baidu by 28.5% during the fourth quarter. Krane Funds Advisors LLC now owns 2,579,686 shares of the information services provider’s stock worth $383,831,000 after buying an additional 571,418 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Baidu from $221.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. The Goldman Sachs Group began coverage on shares of Baidu in a research note on Sunday, April 10th. They issued a “buy” rating and a $240.00 target price on the stock. Benchmark reduced their target price on shares of Baidu from $330.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 27th. Daiwa Capital Markets reduced their target price on shares of Baidu from $215.00 to $210.00 in a research note on Tuesday, July 19th. Finally, Barclays reduced their target price on shares of Baidu from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $232.06.

Baidu Price Performance

Baidu stock opened at $137.82 on Friday. The firm has a market capitalization of $47.62 billion, a P/E ratio of -18.43, a PEG ratio of 1.30 and a beta of 0.70. Baidu, Inc. has a 1 year low of $101.62 and a 1 year high of $182.60. The business has a 50-day moving average of $143.92 and a 200-day moving average of $141.01. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.31.

Baidu Company Profile

(Get Rating)

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; and Haokan, a short video app.

Further Reading

Want to see what other hedge funds are holding BIDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baidu, Inc. (NASDAQ:BIDUGet Rating).

Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.