M&G Plc Has $15.86 Million Stock Holdings in Baidu, Inc. (NASDAQ:BIDU)

by · The Markets Daily

M&G Plc trimmed its position in Baidu, Inc. (NASDAQ:BIDU – Free Report) by 4.5% during the third quarter, HoldingsChannel.com reports. The fund owned 151,090 shares of the information services provider’s stock after selling 7,143 shares during the period. M&G Plc’s holdings in Baidu were worth $15,864,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Primecap Management Co. CA raised its position in shares of Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the period. Federated Hermes Inc. raised its holdings in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after buying an additional 67,331 shares during the period. Dimensional Fund Advisors LP raised its holdings in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after buying an additional 14,878 shares during the period. International Assets Investment Management LLC raised its holdings in Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after buying an additional 338,110 shares during the period.

Baidu Price Performance

NASDAQ:BIDU opened at $93.53 on Friday. Baidu, Inc. has a 1-year low of $79.68 and a 1-year high of $126.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $93.08 and a 200 day simple moving average of $94.14. The stock has a market capitalization of $32.79 billion, a PE ratio of 12.32 and a beta of 0.51.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Check Out Our Latest Research Report on BIDU

Baidu Company Profile

(Free Report)

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.

See Also

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