Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 150.33MM shares of Baidu, Inc. (BIDU). This represents 6.6% of the company.
In their previous filing dated February 7, 2022 they reported 120.30MM shares and 5.40% of the company, an increase in shares of 24.97% and an increase in total ownership of 1.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 25.11% Upside
As of January 31, 2023, the average one-year price target for Baidu is $168.50. The forecasts range from a low of $102.01 to a high of $235.20. The average price target represents an increase of 25.11% from its latest reported closing price of $134.68.
The projected annual revenue for Baidu is $140,517MM, an increase of 13.61%. The projected annual EPS is $66.94, an increase of 477.69%.
Fund Sentiment
There are 783 funds or institutions reporting positions in Baidu. This is a decrease of 123 owner(s) or 13.58%.
Average portfolio weight of all funds dedicated to US:BIDU is 0.5495%, a decrease of 21.9161%. Total shares owned by institutions decreased in the last three months by 11.24% to 97,767K shares.
What are large shareholders doing?
Primecap Management holds 9,540,279 shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 9,557,829 shares, representing a decrease of 0.18%. The firm decreased its portfolio allocation in BIDU by 14.64% over the last quarter.
Dodge & Cox holds 6,743,055 shares representing 1.95% ownership of the company. In it's prior filing, the firm reported owning 6,589,445 shares, representing an increase of 2.28%. The firm decreased its portfolio allocation in BIDU by 11.51% over the last quarter.
VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 5,379,348 shares representing 1.56% ownership of the company. In it's prior filing, the firm reported owning 5,378,248 shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in BIDU by 15.17% over the last quarter.
DODFX - Dodge & Cox International Stock Fund holds 4,466,425 shares representing 1.29% ownership of the company. In it's prior filing, the firm reported owning 4,271,126 shares, representing an increase of 4.37%. The firm decreased its portfolio allocation in BIDU by 8.32% over the last quarter.
Price T Rowe Associates holds 3,521,566 shares representing 1.02% ownership of the company. In it's prior filing, the firm reported owning 3,653,778 shares, representing a decrease of 3.75%. The firm decreased its portfolio allocation in BIDU by 56.00% over the last quarter.
Baidu Background Information
(This description is provided by the company.)
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
