Allianz SE Takes Position in Baidu, Inc. (NASDAQ:BIDU)

Allianz SE acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,147 shares of the information services provider’s stock, valued at approximately $433,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu during the third quarter valued at approximately $42,748,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after purchasing an additional 330,627 shares during the period. Contrarius Group Holdings Ltd bought a new stake in shares of Baidu during the fourth quarter worth $27,328,000. SG Americas Securities LLC boosted its stake in shares of Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after purchasing an additional 227,338 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Baidu by 9.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock worth $203,213,000 after purchasing an additional 207,966 shares during the last quarter.

Baidu Stock Down 5.1 %

BIDU opened at $93.37 on Monday. The business has a 50 day simple moving average of $91.61 and a 200-day simple moving average of $90.44. Baidu, Inc. has a 12 month low of $77.20 and a 12 month high of $116.25. The stock has a market capitalization of $32.74 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $130.00 price target on shares of Baidu in a report on Wednesday, February 19th. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Barclays raised their target price on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.25.

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.