Cullinan Associates Inc. Buys New Position in Baidu, Inc. (NASDAQ:BIDU)

Cullinan Associates Inc. purchased a new position in Baidu, Inc. (NASDAQ:BIDU) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,400 shares of the information services provider’s stock, valued at approximately $569,000.

A number of other large investors have also modified their holdings of the business. ANTIPODES PARTNERS Ltd grew its position in Baidu by 8.8% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after purchasing an additional 116,047 shares during the last quarter. RWC Asset Advisors US LLC lifted its stake in shares of Baidu by 5.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after buying an additional 58,686 shares during the period. ARGA Investment Management LP grew its holdings in shares of Baidu by 6.5% during the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after buying an additional 62,830 shares during the last quarter. National Bank of Canada FI increased its position in shares of Baidu by 90,390.0% in the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock valued at $103,953,000 after acquiring an additional 900,284 shares during the period. Finally, Sanders Capital LLC raised its stake in Baidu by 7.1% in the 4th quarter. Sanders Capital LLC now owns 670,604 shares of the information services provider’s stock worth $79,862,000 after acquiring an additional 44,571 shares during the last quarter.

Baidu Stock Up 0.8 %

Shares of NASDAQ BIDU opened at $86.87 on Wednesday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $99.70 and its two-hundred day moving average is $104.29. Baidu, Inc. has a 52-week low of $85.08 and a 52-week high of $156.98. The firm has a market cap of $30.46 billion, a price-to-earnings ratio of 11.63 and a beta of 0.49.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Susquehanna decreased their price objective on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Mizuho cut their price objective 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. Benchmark restated a “buy” rating and set a $180.00 target price on shares of Baidu in a research report on Friday, May 17th. Finally, Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.64.

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.