GVO Asset Management Ltd Makes New $249,000 Investment in Baidu, Inc. (NASDAQ:BIDU)

GVO Asset Management Ltd purchased a new position in shares of Baidu, Inc. (NASDAQ:BIDU) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,151 shares of the information services provider’s stock, valued at approximately $249,000. Baidu accounts for approximately 0.2% of GVO Asset Management Ltd’s holdings, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BIDU. Toronto Dominion Bank lifted its stake in Baidu by 6.4% in the 4th quarter. Toronto Dominion Bank now owns 711 shares of the information services provider’s stock valued at $154,000 after purchasing an additional 43 shares during the last quarter. TD Asset Management Inc. lifted its stake in shares of Baidu by 0.7% in the third quarter. TD Asset Management Inc. now owns 11,429 shares of the information services provider’s stock valued at $1,447,000 after buying an additional 76 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Baidu by 48.0% in the third quarter. Lindbrook Capital LLC now owns 259 shares of the information services provider’s stock valued at $33,000 after buying an additional 84 shares in the last quarter. Portland Hill Asset Management Ltd lifted its stake in shares of Baidu by 1.0% in the third quarter. Portland Hill Asset Management Ltd now owns 9,607 shares of the information services provider’s stock valued at $1,225,000 after buying an additional 92 shares in the last quarter. Finally, Summit X LLC lifted its position in shares of Baidu by 5.3% during the third quarter. Summit X LLC now owns 1,979 shares of the information services provider’s stock valued at $975,000 after purchasing an additional 99 shares in the last quarter. 49.38% of the stock is currently owned by institutional investors.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Baidu from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective for the company in a report on Friday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Baidu from $155.00 to $290.00 and gave the stock an “overweight” rating in a report on Wednesday, January 13th. Mizuho upped their price target on shares of Baidu to $350.00 and gave the company a “buy” rating in a report on Thursday, February 18th. UBS Group boosted their price objective on shares of Baidu from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, Benchmark upped their target price on shares of Baidu from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, November 17th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $236.32.

Shares of BIDU traded down $25.83 during trading hours on Tuesday, reaching $309.96. 285,441 shares of the company traded hands, compared to its average volume of 10,450,115. The firm has a market cap of $105.72 billion, a price-to-earnings ratio of 33.78 and a beta of 1.16. Baidu, Inc. has a 12-month low of $82.00 and a 12-month high of $354.82. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $261.95 and its 200 day moving average price is $170.91.

Baidu announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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