Public Employees Retirement System of Ohio Makes New Investment in Baidu, Inc. $BIDU

Public Employees Retirement System of Ohio bought a new stake in Baidu, Inc. (NASDAQ:BIDU) during the second quarter, HoldingsChannel.com reports. The firm bought 21,801 shares of the information services provider’s stock, valued at approximately $2,492,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BIDU. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Baidu in the fourth quarter valued at about $2,626,000. WCM Investment Management LLC raised its stake in Baidu by 967.3% during the first quarter. WCM Investment Management LLC now owns 454,295 shares of the information services provider’s stock worth $48,428,000 after acquiring an additional 411,731 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Baidu by 110.9% in the second quarter. Handelsbanken Fonder AB now owns 246,789 shares of the information services provider’s stock worth $28,206,000 after acquiring an additional 129,789 shares during the last quarter. Matthews International Capital Management LLC bought a new position in shares of Baidu in the first quarter worth about $2,603,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Baidu by 39.7% in the 1st quarter. NewEdge Advisors LLC now owns 47,855 shares of the information services provider’s stock valued at $5,332,000 after purchasing an additional 13,598 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Zacks Research cut shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. cut their target price on shares of Baidu from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Susquehanna decreased their target price on shares of Baidu from $140.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 28th. Morgan Stanley downgraded shares of Baidu from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $130.00 to $80.00 in a report on Wednesday, August 19th. Finally, Bank of America dropped their price target on Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.89.

Baidu Stock Up 4.1%

Shares of NASDAQ BIDU opened at $99.47 on Friday. The company has a 50 day simple moving average of $105.74 and a 200 day simple moving average of $117.24. The firm has a market cap of $33.84 billion, a PE ratio of -47.14, a price-to-earnings-growth ratio of 4.39 and a beta of 0.57. Baidu, Inc. has a 1 year low of $89.60 and a 1 year high of $165.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 2.33.

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.