Mitsubishi UFJ Asset Management Co. Ltd. Raises Stake in Baidu, Inc. (NASDAQ:BIDU)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Baidu, Inc. (NASDAQ:BIDU) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,511 shares of the information services provider’s stock after acquiring an additional 5,639 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Baidu were worth $2,645,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BIDU. Rialto Wealth Management LLC purchased a new position in Baidu in the 4th quarter worth $42,000. Sycomore Asset Management purchased a new stake in Baidu during the 4th quarter valued at about $51,000. World Investment Advisors LLC bought a new position in Baidu during the 3rd quarter worth approximately $72,000. Denver PWM LLC increased its stake in Baidu by 28.5% in the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after purchasing an additional 220 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in Baidu in the third quarter valued at approximately $201,000.

Baidu Stock Performance

Shares of BIDU opened at $91.63 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The stock has a market cap of $32.13 billion, a P/E ratio of 9.99, a P/E/G ratio of 2.96 and a beta of 0.47. The business’s 50 day moving average price is $91.95 and its 200-day moving average price is $90.55. Baidu, Inc. has a 52 week low of $77.20 and a 52 week high of $116.25.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Benchmark reiterated a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baidu has an average rating of “Hold” and a consensus target price of $111.25.

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.