Baidu, Inc. (NASDAQ:BIDU) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its stake in Baidu, Inc. (NASDAQ:BIDU) by 20.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,510 shares of the information services provider’s stock after purchasing an additional 17,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Baidu were worth $10,371,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Nordea Investment Management AB boosted its position in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after acquiring an additional 50,599 shares during the last quarter. Trexquant Investment LP acquired a new position in Baidu during the fourth quarter worth about $1,476,000. Perpetual Ltd boosted its position in Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 45,975 shares during the last quarter. Jennison Associates LLC boosted its holdings in Baidu by 54.5% in the 4th quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after purchasing an additional 30,103 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in Baidu by 8.8% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after purchasing an additional 116,047 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BIDU shares. Barclays decreased their target price on shares of Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Jefferies Financial Group decreased their target price on shares of Baidu from $179.00 to $174.00 and set a “buy” rating on the stock in a report on Monday, July 15th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley lowered shares of Baidu from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $140.00 to $125.00 in a report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.60.

Baidu Stock Down 2.2 %

BIDU traded down $1.93 during trading hours on Friday, hitting $84.49. 3,226,305 shares of the company’s stock were exchanged, compared to its average volume of 4,829,994. Baidu, Inc. has a 12-month low of $82.91 and a 12-month high of $151.55. The firm has a 50 day moving average of $92.10 and a 200 day moving average of $100.34. The firm has a market cap of $29.63 billion, a P/E ratio of 11.31 and a beta of 0.49. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25.

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.