CIBC Asset Management Inc Has $4.41 Million Holdings in Baidu, Inc. (NASDAQ:BIDU)

CIBC Asset Management Inc raised its position in Baidu, Inc. (NASDAQ:BIDUGet Rating) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,354 shares of the information services provider’s stock after purchasing an additional 1,513 shares during the quarter. CIBC Asset Management Inc’s holdings in Baidu were worth $4,413,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hardy Reed LLC bought a new position in Baidu in the first quarter valued at about $30,000. FourThought Financial LLC raised its position in shares of Baidu by 61.7% during the first quarter. FourThought Financial LLC now owns 359 shares of the information services provider’s stock worth $47,000 after acquiring an additional 137 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of Baidu during the first quarter worth about $52,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Baidu during the fourth quarter worth about $60,000. Finally, UMB Bank N A MO bought a new position in shares of Baidu during the fourth quarter worth about $60,000. 71.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BIDU. Sanford C. Bernstein began coverage on Baidu in a research report on Thursday, May 5th. They set a “market perform” rating and a $138.00 price objective for the company. Daiwa Capital Markets lowered their target price on Baidu from $215.00 to $210.00 in a report on Tuesday, July 19th. Mizuho lowered their target price on Baidu from $300.00 to $285.00 in a report on Monday, May 2nd. Citigroup lifted their target price on Baidu from $221.00 to $223.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Finally, Benchmark lowered their target price on Baidu from $330.00 to $270.00 and set a “buy” rating for the company in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.06.

Baidu Stock Down 1.6 %

Shares of NASDAQ:BIDU opened at $137.82 on Friday. The stock has a market cap of $47.62 billion, a price-to-earnings ratio of -18.43, a PEG ratio of 1.30 and a beta of 0.70. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 0.31. Baidu, Inc. has a 12-month low of $101.62 and a 12-month high of $182.60. The business’s 50 day moving average is $143.92 and its 200 day moving average is $141.01.

About Baidu

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Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.

Further Reading

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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