Taikang Asset Management Hong Kong Co Ltd Takes $1.44 Million Position in Baidu, Inc. $BIDU

Taikang Asset Management Hong Kong Co Ltd acquired a new stake in Baidu, Inc. (NASDAQ:BIDU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,000 shares of the information services provider’s stock, valued at approximately $1,437,000.

Several other large investors also recently bought and sold shares of the company. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Baidu in the 4th quarter worth about $2,626,000. Yarbrough Capital LLC purchased a new position in Baidu during the 4th quarter valued at about $1,697,000. Earnest Partners LLC raised its position in Baidu by 21.9% during the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider’s stock worth $107,910,000 after acquiring an additional 146,992 shares during the last quarter. TT International Asset Management LTD purchased a new stake in shares of Baidu in the fourth quarter valued at about $33,727,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Baidu by 72.7% in the third quarter. ARK Investment Management LLC now owns 508,388 shares of the information services provider’s stock valued at $66,990,000 after purchasing an additional 213,941 shares in the last quarter.

Baidu Stock Performance

NASDAQ:BIDU opened at $112.72 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $38.35 billion, a PE ratio of -939.26, a P/E/G ratio of 1.99 and a beta of 0.54. The firm has a 50 day simple moving average of $126.84 and a 200-day simple moving average of $129.89. Baidu, Inc. has a 1-year low of $83.30 and a 1-year high of $165.30.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BIDU. Weiss Ratings cut shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Benchmark reaffirmed a “buy” rating and issued a $215.00 target price on shares of Baidu in a research note on Tuesday, May 19th. Nomura raised their price target on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Zephirin Group boosted their price target on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. Finally, Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Baidu currently has an average rating of “Moderate Buy” and an average price target of $162.58.

Baidu 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.