Arizona PSPRS Trust Invests $234,000 in Baidu, Inc. (NASDAQ:BIDU)

Arizona PSPRS Trust bought a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,224 shares of the information services provider’s stock, valued at approximately $234,000.

A number of other hedge funds also recently bought and sold shares of BIDU. Primecap Management Co. CA lifted its position in shares of Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after purchasing an additional 1,061,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Baidu in the third quarter worth $36,272,000. Hhlr Advisors LTD. purchased a new stake in Baidu in the 3rd quarter worth about $31,587,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after acquiring an additional 295,700 shares during the period.

Baidu Stock Up 0.3 %

Shares of BIDU stock opened at $85.05 on Monday. Baidu, Inc. has a one year low of $78.95 and a one year high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a fifty day moving average price of $93.57 and a 200 day moving average price of $91.50. The stock has a market cap of $29.82 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Loop Capital dropped their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Profile

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.