Baidu, Inc. (NASDAQ:BIDU) Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP increased its holdings in Baidu, Inc. (NASDAQ:BIDU) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,022,883 shares of the information services provider’s stock after buying an additional 62,830 shares during the period. Baidu accounts for 3.6% of ARGA Investment Management LP’s holdings, making the stock its 10th largest position. ARGA Investment Management LP owned 0.29% of Baidu worth $107,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIDU. Bruce G. Allen Investments LLC acquired a new position in Baidu during the fourth quarter valued at approximately $25,000. Headinvest LLC acquired a new position in Baidu during the third quarter valued at approximately $36,000. FNY Investment Advisers LLC acquired a new position in Baidu during the fourth quarter valued at approximately $42,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Baidu during the fourth quarter valued at approximately $48,000. Finally, Accent Capital Management LLC acquired a new position in Baidu during the fourth quarter valued at approximately $66,000.

Baidu Price Performance

Shares of Baidu stock remained flat at $88.55 during trading on Wednesday. 862,562 shares of the company traded hands, compared to its average volume of 3,346,969. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.79 and a current ratio of 2.79. The stock has a market capitalization of $31.05 billion, a PE ratio of 11.88 and a beta of 0.52. The firm’s 50 day moving average is $100.38 and its 200-day moving average is $105.02. Baidu, Inc. has a one year low of $87.82 and a one year high of $156.98.

Analysts Set New Price Targets

Several research analysts have commented on BIDU shares. Macquarie downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Mizuho decreased their target price on shares of Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Barclays decreased their target price on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Benchmark reaffirmed a “buy” rating and set a $180.00 target price on shares of Baidu in a research note on Friday, May 17th. Finally, Loop Capital decreased their target price on shares of Baidu from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.64.

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.