Bridgewater Associates LP Purchases New Position in Baidu, Inc. (NASDAQ:BIDU)

Bridgewater Associates LP purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 114,284 shares of the information services provider’s stock, valued at approximately $12,033,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Guinness Asset Management LTD increased its position in shares of Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 100 shares in the last quarter. Grove Bank & Trust increased its position in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Baidu by 5.2% during the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after acquiring an additional 140 shares in the last quarter. Blue Trust Inc. grew its position in Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after purchasing an additional 171 shares during the period. Finally, Intellectus Partners LLC grew its position in Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after purchasing an additional 250 shares during the period.

Baidu Trading Up 1.6 %

Shares of BIDU stock opened at $84.82 on Friday. Baidu, Inc. has a 52-week low of $78.95 and a 52-week high of $123.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a market capitalization of $29.74 billion, a PE ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51. The stock has a fifty day simple moving average of $93.59 and a two-hundred day simple moving average of $91.94.

Analysts Set New Price Targets

A number of research firms have commented on BIDU. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $85.00 in a research report on Monday. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America cut their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Benchmark cut their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Baidu presently has an average rating of “Hold” and a consensus target price of $114.92.

About Baidu

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.