SRS Investment Management LLC bought a new position in shares of Baidu Inc (NASDAQ:BIDU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 409,365 shares of the information services provider’s stock, valued at approximately $48,043,000. Baidu makes up 1.0% of SRS Investment Management LLC’s holdings, making the stock its 14th largest position. SRS Investment Management LLC owned about 0.12% of Baidu at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of Baidu by 4.3% during the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after buying an additional 653,684 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Baidu by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 10,111,996 shares of the information services provider’s stock worth $1,186,744,000 after buying an additional 89,489 shares in the last quarter. Invesco Ltd. raised its stake in shares of Baidu by 4.2% during the 2nd quarter. Invesco Ltd. now owns 5,632,774 shares of the information services provider’s stock worth $661,062,000 after buying an additional 228,312 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Baidu by 3.5% during the 1st quarter. Lazard Asset Management LLC now owns 3,191,574 shares of the information services provider’s stock worth $526,130,000 after buying an additional 107,716 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in shares of Baidu by 0.7% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 3,131,855 shares of the information services provider’s stock worth $367,555,000 after buying an additional 22,500 shares in the last quarter. 56.39% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on BIDU. Barclays set a $135.00 target price on Baidu and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Macquarie set a $131.00 price target on Baidu and gave the stock a “hold” rating in a report on Thursday, July 4th. BidaskClub cut Baidu from a “hold” rating to a “sell” rating in a report on Friday. Loop Capital assumed coverage on Baidu in a report on Monday, June 3rd. They issued a “hold” rating and a $125.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on Baidu in a report on Monday, August 5th. They issued a “buy” rating and a $132.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $151.06.

NASDAQ:BIDU traded down $2.19 during trading hours on Friday, reaching $105.58. 1,140,060 shares of the company traded hands, compared to its average volume of 3,512,696. The firm’s 50-day moving average is $103.79 and its 200-day moving average is $131.87. The stock has a market cap of $38.09 billion, a P/E ratio of 13.54, a P/E/G ratio of 14.29 and a beta of 1.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.61. Baidu Inc has a 1-year low of $93.39 and a 1-year high of $234.88.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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