Perpetual Ltd Grows Position in Baidu, Inc. (NASDAQ:BIDU)

Perpetual Ltd grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 45.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,165 shares of the information services provider’s stock after acquiring an additional 45,975 shares during the quarter. Perpetual Ltd’s holdings in Baidu were worth $15,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BIDU. Federated Hermes Inc. lifted its position in Baidu by 15.3% during the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock valued at $241,076,000 after purchasing an additional 238,374 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in Baidu by 8.8% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after acquiring an additional 116,047 shares in the last quarter. Invesco Ltd. increased its stake in Baidu by 6.4% in the third quarter. Invesco Ltd. now owns 1,301,583 shares of the information services provider’s stock valued at $174,868,000 after acquiring an additional 78,331 shares during the last quarter. RWC Asset Advisors US LLC raised its position in Baidu by 5.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock valued at $138,706,000 after purchasing an additional 58,686 shares in the last quarter. Finally, ARGA Investment Management LP lifted its stake in Baidu by 13.1% during the fourth quarter. ARGA Investment Management LP now owns 960,053 shares of the information services provider’s stock worth $114,333,000 after purchasing an additional 111,505 shares during the last quarter.

Analyst Ratings Changes

BIDU has been the topic of a number of research reports. Citigroup decreased their price objective on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Susquehanna reduced their target price on shares of Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Macquarie downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Barclays reduced their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.93.

Baidu Price Performance

Shares of BIDU stock opened at $88.81 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. Baidu, Inc. has a fifty-two week low of $88.48 and a fifty-two week high of $156.98. The firm has a market cap of $31.14 billion, a P/E ratio of 11.89 and a beta of 0.52. The business’s 50 day moving average price is $100.86 and its 200-day moving average price is $105.67.

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.