Mitsubishi UFJ Trust & Banking Corp Has $699,000 Stake in Baidu, Inc. $BIDU

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 45.2% during the third quarter, Holdings Channel reports. The fund owned 5,306 shares of the information services provider’s stock after selling 4,375 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Baidu were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BIDU. Binnacle Investments Inc bought a new position in Baidu during the second quarter worth $29,000. Winthrop Capital Management LLC acquired a new stake in shares of Baidu during the 2nd quarter worth about $39,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Baidu during the 2nd quarter worth about $43,000. Assetmark Inc. grew its stake in Baidu by 127.6% in the 2nd quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock valued at $64,000 after buying an additional 416 shares during the last quarter. Finally, CX Institutional raised its holdings in Baidu by 31.7% in the 3rd quarter. CX Institutional now owns 942 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 227 shares during the period.

Baidu Price Performance

BIDU stock opened at $153.18 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. Baidu, Inc. has a 12 month low of $74.71 and a 12 month high of $165.30. The firm has a market cap of $52.92 billion, a P/E ratio of 50.89 and a beta of 0.30. The company’s 50-day moving average price is $135.21 and its two-hundred day moving average price is $119.33.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research reports. Zacks Research raised Baidu from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Weiss Ratings restated a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. Susquehanna reiterated a “neutral” rating and set a $110.00 price objective on shares of Baidu in a research report on Monday, November 24th. Bank of America boosted their target price on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Baidu from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.78.

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.