Baidu, Inc. $BIDU Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 28.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 366,002 shares of the information services provider’s stock after buying an additional 82,129 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Baidu were worth $31,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. Primecap Management Co. CA increased its holdings in Baidu by 1.4% in the 2nd quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock valued at $1,039,132,000 after purchasing an additional 170,414 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock valued at $125,338,000 after purchasing an additional 11,658 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Baidu by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock worth $95,494,000 after acquiring an additional 25,834 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Baidu during the 2nd quarter worth approximately $80,618,000. Finally, Mondrian Investment Partners LTD increased its holdings in shares of Baidu by 41.7% in the 1st quarter. Mondrian Investment Partners LTD now owns 777,534 shares of the information services provider’s stock valued at $71,556,000 after acquiring an additional 228,623 shares during the period.

Baidu Stock Performance

Baidu stock opened at $125.66 on Friday. Baidu, Inc. has a 12-month low of $74.71 and a 12-month high of $149.51. The company has a market capitalization of $43.41 billion, a price-to-earnings ratio of 41.75 and a beta of 0.44. 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 firm’s fifty day moving average price is $124.11 and its 200 day moving average price is $104.42.

Analyst Ratings Changes

Several brokerages have weighed in on BIDU. Weiss Ratings reiterated a “hold (c-)” rating on shares of Baidu in a research note on Monday, December 1st. Jefferies Financial Group boosted their price objective on shares of Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Susquehanna reiterated a “neutral” rating and set a $110.00 price objective on shares of Baidu in a research report on Monday, November 24th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Arete Research raised Baidu from a “sell” rating to a “buy” rating and set a $143.00 target price on the stock in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.11.

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.