World Investment Advisors LLC bought a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 68,680 shares of the information services provider's stock, valued at approximately $72,000.
Other large investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after buying an additional 130 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider's stock valued at $297,000 after acquiring an additional 140 shares in the last quarter. Intellectus Partners LLC lifted its position in shares of Baidu by 1.5% in the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock worth $1,741,000 after acquiring an additional 250 shares during the period. Ridgewood Investments LLC grew its holdings in shares of Baidu by 5.3% during the 2nd quarter. Ridgewood Investments LLC now owns 6,900 shares of the information services provider's stock worth $597,000 after purchasing an additional 349 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Baidu by 6.9% during the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider's stock valued at $586,000 after purchasing an additional 357 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Susquehanna downgraded shares of Baidu from a "positive" rating to a "neutral" rating and decreased their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Sanford C. Bernstein lowered shares of Baidu from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. China Renaissance lowered shares of Baidu from a "buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research report on Monday, November 25th. Benchmark decreased their price objective on Baidu from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Finally, Bank of America dropped their target price on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Baidu has an average rating of "Hold" and a consensus target price of $113.75.
View Our Latest Stock Analysis on Baidu
Baidu Price Performance
NASDAQ:BIDU traded up $0.22 during mid-day trading on Friday, reaching $85.80. 2,820,584 shares of the company were exchanged, compared to its average volume of 3,582,133. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of $30.09 billion, a PE ratio of 10.50, a PEG ratio of 1.19 and a beta of 0.46. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $120.25. The company has a fifty day moving average of $88.98 and a 200 day moving average of $90.22.
About Baidu
(
Free Report)
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.
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