Dodge & Cox Sells 1,023,300 Shares of Baidu, Inc. $BIDU

Dodge & Cox reduced its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 18.9% in the third quarter, HoldingsChannel reports. The firm owned 4,404,415 shares of the information services provider’s stock after selling 1,023,300 shares during the quarter. Dodge & Cox’s holdings in Baidu were worth $580,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NINE MASTS CAPITAL Ltd bought a new position in shares of Baidu in the 3rd quarter worth approximately $4,930,000. Marshall Wace LLP grew its position in Baidu by 133.4% during the third quarter. Marshall Wace LLP now owns 195,333 shares of the information services provider’s stock valued at $25,739,000 after buying an additional 111,633 shares during the period. Vise Technologies Inc. purchased a new stake in Baidu during the third quarter valued at approximately $269,000. Quantitative Investment Management LLC purchased a new stake in Baidu during the third quarter valued at approximately $316,000. Finally, Sei Investments Co. raised its position in Baidu by 6.2% in the third quarter. Sei Investments Co. now owns 239,556 shares of the information services provider’s stock worth $31,566,000 after acquiring an additional 13,976 shares during the period.

Baidu Stock Performance

BIDU opened at $124.07 on Friday. The company has a 50 day simple moving average of $140.63 and a two-hundred day simple moving average of $128.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91. The firm has a market cap of $42.86 billion, a P/E ratio of 78.03 and a beta of 0.32. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $165.30.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating on shares of Baidu in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Susquehanna lifted their target price on Baidu from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. National Bank Financial raised Baidu to an “outperform” rating in a report on Monday, November 24th. Finally, UBS Group restated a “buy” rating on shares of Baidu in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $157.89.

Baidu Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.