Fmr LLC Has $144.13 Million Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

Posted by on Sep 3rd, 2023

Fmr LLC increased its holdings in shares of Baidu, Inc. (NASDAQ:BIDU – Free Report) by 12,844.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 955,034 shares of the information services provider’s stock after purchasing an additional 947,656 shares during the period. Fmr LLC owned approximately 0.28% of Baidu worth $144,134,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. ING Groep NV acquired a new stake in Baidu during the first quarter worth approximately $33,000. Global Retirement Partners LLC grew its stake in Baidu by 85.6% during the first quarter. Global Retirement Partners LLC now owns 347 shares of the information services provider’s stock worth $40,000 after purchasing an additional 160 shares during the period. Heritage Wealth Management LLC boosted its holdings in Baidu by 87.1% in the fourth quarter. Heritage Wealth Management LLC now owns 378 shares of the information services provider’s stock worth $43,000 after acquiring an additional 176 shares in the last quarter. Emfo LLC bought a new position in Baidu in the first quarter worth approximately $60,000. Finally, Money Concepts Capital Corp boosted its holdings in Baidu by 2,930.0% in the fourth quarter. Money Concepts Capital Corp now owns 606 shares of the information services provider’s stock worth $69,000 after acquiring an additional 586 shares in the last quarter. Institutional investors and hedge funds own 21.22% of the company’s stock.

Baidu Stock Performance

Shares of Baidu stock opened at $146.47 on Friday. The business’s fifty day simple moving average is $142.19 and its 200 day simple moving average is $137.93. The firm has a market capitalization of $50.61 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 0.33 and a beta of 0.71. Baidu, Inc. has a 12 month low of $73.58 and a 12 month high of $160.88. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.25.

Analyst Ratings Changes

Several research analysts have issued reports on BIDU shares. Susquehanna reiterated a “positive” rating and issued a $175.00 price target on shares of Baidu in a report on Thursday. JPMorgan Chase & Co. increased their price target on Baidu from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Mizuho reiterated a “buy” rating and issued a $170.00 price target on shares of Baidu in a report on Wednesday, August 23rd. Bank of America cut their price target on Baidu from $228.00 to $222.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. Finally, Barclays raised their target price on Baidu from $181.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $187.06.

Read Our Latest Stock Analysis on Baidu

Baidu Profile

(Free Report)

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; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.

Featured Stories

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.