Fred Alger Management LLC Takes $19.36 Million Position in Baidu, Inc. $BIDU

Fred Alger Management LLC acquired a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 146,886 shares of the information services provider’s stock, valued at approximately $19,355,000.

Several other large investors also recently made changes to their positions in the company. UMB Bank n.a. increased its position in Baidu by 65.0% in the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Binnacle Investments Inc bought a new stake in shares of Baidu during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC increased its holdings in shares of Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 372 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Baidu during the second quarter worth approximately $43,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Baidu in the 3rd quarter valued at $80,000.

Analyst Ratings Changes

BIDU has been the topic of a number of recent research reports. UBS Group reaffirmed a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. Susquehanna raised their price target on shares of Baidu from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Zephirin Group boosted their price objective on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and raised their target price for the company from $134.00 to $180.00 in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $110.00 to $188.00 in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and a consensus target price of $157.89.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $121.80 on Tuesday. The company has a market capitalization of $42.08 billion, a PE ratio of 76.60 and a beta of 0.33. The company has a quick ratio of 1.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $140.07 and its 200-day moving average price is $129.08. Baidu, Inc. has a twelve month low of $74.71 and a twelve month high of $165.30.

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.