Baidu, Inc. (NASDAQ:BIDU) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC boosted its stake in Baidu, Inc. (NASDAQ:BIDU) by 54.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,306 shares of the information services provider’s stock after buying an additional 30,103 shares during the quarter. Jennison Associates LLC’s holdings in Baidu were worth $10,159,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Baidu in the fourth quarter valued at $25,000. Headinvest LLC acquired a new stake in shares of Baidu during the 3rd quarter worth about $36,000. FNY Investment Advisers LLC purchased a new stake in shares of Baidu during the fourth quarter worth about $42,000. ING Groep NV raised its position in shares of Baidu by 103.2% in the third quarter. ING Groep NV now owns 443 shares of the information services provider’s stock valued at $60,000 after buying an additional 225 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Baidu during the third quarter valued at approximately $73,000.

Baidu Trading Up 0.7 %

Shares of BIDU stock opened at $99.90 on Friday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. Baidu, Inc. has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The firm’s 50 day moving average price is $103.19 and its two-hundred day moving average price is $109.13. The stock has a market cap of $35.03 billion, a price-to-earnings ratio of 12.94 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lowered their target price on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Barclays lowered their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, HSBC lowered their price target on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.64.

Baidu Company Profile

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.