Fideuram Asset Management Ireland dac Buys Shares of 77,627 Baidu, Inc. $BIDU

Fideuram Asset Management Ireland dac bought a new stake in Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 77,627 shares of the information services provider’s stock, valued at approximately $10,143,000. Baidu comprises approximately 0.7% of Fideuram Asset Management Ireland dac’s portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Baidu by 7.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,473 shares of the information services provider’s stock valued at $2,544,000 after acquiring an additional 1,363 shares during the last quarter. Savant Capital LLC boosted its stake in Baidu by 7.5% in the fourth quarter. Savant Capital LLC now owns 1,856 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 129 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in Baidu in the fourth quarter valued at about $285,000. Integrity Alliance LLC. purchased a new position in Baidu in the fourth quarter valued at about $810,000. Finally, Themes Management Co LLC purchased a new position in Baidu in the fourth quarter valued at about $1,447,000.

Baidu Stock Performance

NASDAQ BIDU opened at $132.05 on Friday. The company’s 50 day moving average is $123.94 and its 200-day moving average is $129.46. Baidu, Inc. has a 12-month low of $81.17 and a 12-month high of $165.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The firm has a market cap of $44.93 billion, a P/E ratio of -1,100.32, a price-to-earnings-growth ratio of 2.19 and a beta of 0.53.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Barclays dropped their target price on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Zacks Research lowered shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Nomura boosted their price target on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Finally, Benchmark reissued a “buy” rating and issued a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.