New York State Common Retirement Fund Buys 9,800 Shares of Baidu, Inc. (NASDAQ:BIDU)

New York State Common Retirement Fund boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,877 shares of the information services provider’s stock after acquiring an additional 9,800 shares during the period. New York State Common Retirement Fund’s holdings in Baidu were worth $7,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIDU. Jennison Associates LLC raised its position in shares of Baidu by 54.5% in the 4th quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after buying an additional 30,103 shares in the last quarter. Waterfront Wealth Inc. lifted its stake in Baidu by 23.7% during the fourth quarter. Waterfront Wealth Inc. now owns 11,841 shares of the information services provider’s stock worth $1,410,000 after purchasing an additional 2,265 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Baidu in the 4th quarter valued at $258,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Baidu by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock worth $186,000 after acquiring an additional 201 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Baidu by 49.8% in the 4th quarter. Mackenzie Financial Corp now owns 3,844 shares of the information services provider’s stock valued at $458,000 after purchasing an additional 1,278 shares in the last quarter.

Baidu Stock Performance

NASDAQ:BIDU opened at $113.41 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. Baidu, Inc. has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The company has a 50 day simple moving average of $102.97 and a two-hundred day simple moving average of $108.23. The company has a market capitalization of $39.77 billion, a PE ratio of 14.69 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BIDU. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Barclays dropped their price target on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Citigroup reduced their price objective on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Finally, HSBC dropped their target price on Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.64.

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.