Itau Unibanco Holding S.A. Takes $4.42 Million Position in Baidu, Inc. (NASDAQ:BIDU)

Itau Unibanco Holding S.A. acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,000 shares of the information services provider’s stock, valued at approximately $4,422,000.

Several other large investors also recently made changes to their positions in the business. Primecap Management Co. CA grew its holdings in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after purchasing an additional 1,061,893 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Baidu during the third quarter valued at approximately $36,272,000. Hhlr Advisors LTD. acquired a new position in Baidu during the third quarter valued at approximately $31,587,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after acquiring an additional 295,700 shares during the last quarter.

Baidu Stock Performance

Shares of BIDU opened at $86.52 on Tuesday. The stock has a market capitalization of $30.34 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.12 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock’s 50-day simple moving average is $93.53 and its 200 day simple moving average is $91.31. Baidu, Inc. has a 52-week low of $78.95 and a 52-week high of $120.25.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of research analyst reports. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and cut their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Baidu has a consensus rating of “Hold” and an average price target of $113.75.

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.