Fisher Asset Management LLC Has $1.04 Million Holdings in Baidu, Inc. (NASDAQ:BIDU)

Posted by on Apr 29th, 2023

Fisher Asset Management LLC raised its holdings in Baidu, Inc. (NASDAQ:BIDU – Get Rating) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,064 shares of the information services provider’s stock after buying an additional 1,334 shares during the quarter. Fisher Asset Management LLC’s holdings in Baidu were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BIDU. Live Oak Private Wealth LLC raised its position in shares of Baidu by 3.5% during the third quarter. Live Oak Private Wealth LLC now owns 5,333 shares of the information services provider’s stock worth $627,000 after purchasing an additional 181 shares during the period. National Bank of Canada FI raised its position in shares of Baidu by 238.0% during the fourth quarter. National Bank of Canada FI now owns 32,992 shares of the information services provider’s stock worth $3,774,000 after purchasing an additional 23,231 shares during the period. Metis Global Partners LLC acquired a new position in shares of Baidu during the third quarter worth approximately $457,000. Massachusetts Financial Services Co. MA raised its position in shares of Baidu by 1.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 296,337 shares of the information services provider’s stock worth $34,817,000 after purchasing an additional 3,953 shares during the period. Finally, Barclays PLC raised its position in shares of Baidu by 26.3% during the third quarter. Barclays PLC now owns 412,400 shares of the information services provider’s stock worth $48,453,000 after purchasing an additional 85,819 shares during the period. 23.06% of the stock is owned by institutional investors and hedge funds.

Baidu Stock Up 1.8 %

Shares of NASDAQ:BIDU opened at $120.61 on Friday. The company has a market capitalization of $41.68 billion, a PE ratio of 41.73, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.67 and a quick ratio of 2.67. The business has a fifty day moving average price of $139.58 and a two-hundred day moving average price of $123.24. Baidu, Inc. has a 1 year low of $73.58 and a 1 year high of $160.88.

Baidu declared that its board has authorized a stock repurchase program on Wednesday, February 22nd that permits the company to buyback $0.00 in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BIDU shares. HSBC upped their target price on Baidu from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 14th. Jefferies Financial Group decreased their price target on Baidu from $217.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, January 17th. JPMorgan Chase & Co. started coverage on Baidu in a report on Thursday, March 23rd. They set an “overweight” rating for the company. Benchmark upped their price target on Baidu from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Finally, Susquehanna upped their price target on Baidu from $150.00 to $175.00 and gave the stock a “positive” rating in a report on Tuesday, February 28th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.00.

Baidu Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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