On September 2, 2023, it was reported that Natixis Advisors L.P. had increased its holdings in Baidu, Inc. (NASDAQ:BIDU) by 52.2% during the first quarter. According to its most recent filing with the Securities and Exchange Commission (SEC), the fund now owns 25,891 shares of Baidu’s stock after acquiring an additional 8,878 shares in the quarter. The total value of Natixis Advisors L.P.’s holdings in Baidu is estimated to be $3,907,000 as of its most recent SEC filing.
For investors interested in obtaining more information about other hedge funds holding BIDU, HoldingsChannel.com can be visited to access the latest 13F filings and insider trades related to Baidu.
Baidu has attracted significant attention from analysts recently. Barclays analysts increased their price objective for Baidu from $181.00 to $183.00 and gave the company an “overweight” rating in a report published on August 23rd, 2023. Conversely, Bank of America analysts decreased their price target for Baidu from $228.00 to $222.00 and maintained a “buy” rating on the stock in a report released on the same day.
Similarly, Loop Capital analysts lowered their price target for Baidu from $215.00 to $190.00 while maintaining a “buy” rating for the company in a report published on Tuesday prior to August 23rd.
On another note, Mizuho analysts reiterated their “buy” rating and set a target price of $170.00 per share for Baidu in a report issued on August 23rd.
Moreover, Morgan Stanley upgraded their rating on Baidu from “equal weight” to “overweight” and raised their target price for the stock from $160.00 to $190.00 in a report released on June 20th, 2023.
Overall, according to Bloomberg.com, Baidu has received a consensus rating of “Buy” from analysts, with an average price target of $187.06.
These various research reports from reputable firms shed light on the positive sentiment surrounding Baidu and its potential for growth in the future. Investors should take note of these ratings and conduct their own thorough analysis before making any investment decisions regarding Baidu stock.
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Institutional Investors Show Growing Interest in Baidu, Inc. as Stock Fluctuations Continue
On Friday, September 2, 2023, shares of BIDU stock opened at $142.83. Baidu, Inc., a prominent internet search services provider in China, has attracted the attention of several institutional investors who have recently made changes to their positions in the company.
Morgan Stanley, for instance, significantly increased its holdings in Baidu during the fourth quarter by 88.2%. The financial institution now owns an impressive 2,631,331 shares of Baidu’s stock, with a total value of $300,972,000. This increase was mainly due to Morgan Stanley acquiring an additional 1,232,917 shares during the last quarter.
Another institutional investor that has seen considerable growth in its holdings is Axiom Investors LLC DE. This company experienced a 66.6% increase in its Baidu holdings during the fourth quarter. As a result, Axiom now owns 2,468,502 shares of Baidu’s stock valued at approximately $282,347,000 after obtaining an extra 986,939 shares.
Similarly, Alkeon Capital Management LLC grew its holdings in Baidu by 28.2% during the same period and currently owns 2,526,264 shares worth $288,954 million. Sanders Capital LLC also acquired a new position in Baidu valued at $50.26 million during the fourth quarter of the previous year.
Contrarius Investment Management Ltd followed suit and acquired a new position in Baidu during the first quarter valued at $65.68 million. Overall institutional investors and hedge funds currently own approximately 21.22% of BIDU stock.
Baidu’s stock performance over the past year has seen significant fluctuations but remains relatively promising compared to industry standards. It hit a twelve-month low of $73.58 and reached a high of $160.88 during that period.
The company boasts a market capitalization of $49.35 billion, which positions it as a key player in the industry. With a price-to-earnings (P/E) ratio of 23.34 and a PEG ratio of 0.33, Baidu demonstrates favorable financial indicators, indicating strong potential for future growth. The company also has a current ratio and quick ratio of 2.84, highlighting its ability to meet short-term financial obligations.
Baidu operates through two main segments – Baidu Core and iQIYI – providing internet search services and various other digital offerings. Its services include the Baidu App, which allows users to access search, feed updates, and other features on mobile devices. Baidu Search enables users to utilize the company’s search engine and explore additional services available.
Additionally, Baidu Feed offers users personalized newsfeeds tailored to their demographics and interests, while Baidu Health assists individuals in finding suitable healthcare providers based on their needs. Moreover, Baidu owns Haokan, a popular short video app catering to users’ entertainment preferences.
For those interested in keeping track of other hedge funds’ involvement with BIDU stock or staying informed about insider trades related to the company, HoldingsChannel.com provides access to recent 13F filings and relevant information.
In conclusion, despite recent fluctuations in its stock price, Baidu remains an appealing investment option for institutional investors due to its extensive offerings in the internet search services industry within China. As these investors continue to increase their holdings in the company, it will be interesting to observe how this impacts Baidu’s performance going forward.
