Bridgewater Associates LP Acquires New Stake in Baidu, Inc. (NASDAQ:BIDU)

Bridgewater Associates LP has made a significant move by purchasing a new stake in Baidu, Inc. (NASDAQ:BIDU) during the third quarter of this year. This information comes from the company's recent Form 13F filing submitted to the Securities and Exchange Commission (SEC). According to the filing, Bridgewater acquired 114,284 shares of Baidu, valued at around $12,033,000.

Changes in Institutional Ownership

In addition to Bridgewater's investment, several other institutional investors and hedge funds have also adjusted their positions regarding Baidu. For instance, Guinness Asset Management LTD increased its stake in Baidu by 4.4% during the second quarter, now owning 2,360 shares worth approximately $204,000 after adding 100 shares in the last quarter. Similarly, Grove Bank & Trust raised its ownership in Baidu by 21.6% in the third quarter, bringing its total to 731 shares valued at $77,000 after acquiring 130 additional shares. Moreover, Advisors Asset Management Inc. has increased its holdings by 5.2%, now owning 2,818 shares valued at $297,000 after purchasing another 140 shares. Blue Trust Inc. also grew its position by 9.0%, owning 2,078 shares worth $180,000 following the acquisition of 171 shares. Lastly, Intellectus Partners LLC increased its ownership by 1.5%, now holding 16,538 shares valued at $1,741,000 after buying an additional 250 shares.

Baidu Stock Performance

As for Baidu's stock performance, shares opened at $84.82 on Friday. Over the past year, Baidu has seen a low of $78.95 and a high of $123.74. The company's financial metrics include a debt-to-equity ratio of 0.18, a quick ratio of 2.19, and a current ratio of 2.19. As of now, Baidu boasts a market capitalization of $29.74 billion, a price-to-earnings (PE) ratio of 10.38, a price-to-earnings growth (PEG) ratio of 1.06, and a beta of 0.51. The stock is currently tracking a fifty-day simple moving average of $93.59 and a two-hundred-day simple moving average of $91.94.

Analysts' Ratings and Price Targets

Recent evaluations from various research firms indicate a mix of opinions on Baidu's stock. Susquehanna downgraded its rating from "positive" to "neutral" and adjusted its target price from $105.00 to $85.00. Following this, HSBC Global Research also downgraded Baidu from "strong-buy" to "hold". Additionally, Bank of America revised its target price from $128.00 to $117.00 while maintaining a "buy" rating. Furthermore, Benchmark decreased its target price from $135.00 to $130.00, still holding a "buy" stance. China Renaissance also changed its recommendation from "buy" to "hold" with a revised target price of $86.00. Currently, 10 analysts have rated Baidu with a "hold" and 7 have given a "buy" rating. The average rating for Baidu is "Hold," with a consensus target price of $114.92.

About Baidu, Inc.

Baidu, Inc. is a leading provider of internet search services within China. The company operates through two main segments: Baidu Core and iQIYI. Baidu provides a variety of services including the Baidu App for mobile access to search and other features, Baidu Search for retrieving information, and Baidu Feed which curates personalized content for users based on their interests. In addition, Baidu Health assists users in finding medical professionals, while Haokan is a platform for short video content.

Baidu, Stock, Investment