Thornburg Investment Management Inc. Buys 121,845 Shares of Baidu (BIDU)

Thornburg Investment Management Inc. boosted its stake in Baidu (NASDAQ:BIDU) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 941,245 shares of the information services provider’s stock after acquiring an additional 121,845 shares during the period. Baidu accounts for about 1.6% of Thornburg Investment Management Inc.’s holdings, making the stock its 19th biggest position. Thornburg Investment Management Inc.’s holdings in Baidu were worth $210,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of BIDU. ARGA Investment Management LP increased its position in Baidu by 0.3% during the 1st quarter. ARGA Investment Management LP now owns 703,029 shares of the information services provider’s stock worth $156,909,000 after purchasing an additional 2,300 shares during the period. Lyell Wealth Management LP boosted its stake in shares of Baidu by 100.2% during the 1st quarter. Lyell Wealth Management LP now owns 5,205 shares of the information services provider’s stock worth $1,162,000 after acquiring an additional 2,605 shares in the last quarter. KCS Wealth Advisory boosted its stake in shares of Baidu by 6.5% during the 1st quarter. KCS Wealth Advisory now owns 3,350 shares of the information services provider’s stock worth $748,000 after acquiring an additional 205 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Baidu by 3.8% during the 1st quarter. Pzena Investment Management LLC now owns 424,873 shares of the information services provider’s stock worth $94,827,000 after acquiring an additional 15,405 shares in the last quarter. Finally, Barings LLC boosted its stake in shares of Baidu by 20.9% during the 1st quarter. Barings LLC now owns 266,000 shares of the information services provider’s stock worth $59,369,000 after acquiring an additional 46,000 shares in the last quarter. Hedge funds and other institutional investors own 63.15% of the company’s stock.

BIDU has been the topic of several research analyst reports. ValuEngine raised Baidu from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Deutsche Bank initiated coverage on Baidu in a research note on Thursday, March 15th. They set a “buy” rating and a $319.00 price target on the stock. Zacks Investment Research raised Baidu from a “hold” rating to a “buy” rating and set a $257.00 price target on the stock in a research note on Tuesday, April 17th. Benchmark reissued a “buy” rating and set a $300.00 price target (up previously from $285.00) on shares of Baidu in a research note on Friday, April 27th. Finally, Citigroup raised Baidu from a “neutral” rating to a “buy” rating and set a $307.00 price target on the stock in a research note on Friday, April 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $272.79.

Shares of Baidu stock opened at $268.68 on Friday. The firm has a market capitalization of $90.60 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.47 and a beta of 1.87. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34.

Baidu Company Profile

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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Institutional Ownership by Quarter for Baidu (NASDAQ:BIDU)

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