National Bank of Canada FI Acquires 11,634 Shares of Baidu, Inc. (NASDAQ:BIDU)

National Bank of Canada FI boosted its holdings in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,886 shares of the information services provider's stock after buying an additional 11,634 shares during the quarter. National Bank of Canada FI's holdings in Baidu were worth $12,518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. iA Global Asset Management Inc. bought a new stake in Baidu during the second quarter valued at about $52,000. Allspring Global Investments Holdings LLC raised its holdings in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after acquiring an additional 593 shares during the period. Grove Bank & Trust lifted its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after purchasing an additional 130 shares in the last quarter. Denver PWM LLC bought a new position in Baidu in the 2nd quarter worth approximately $67,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Baidu during the 3rd quarter valued at approximately $82,000.

Baidu Trading Up 0.2 %

Shares of Baidu stock traded up $0.16 during trading on Wednesday, hitting $89.37. The stock had a trading volume of 2,504,188 shares, compared to its average volume of 3,610,660. Baidu, Inc. has a 12 month low of $78.95 and a 12 month high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The firm's fifty day simple moving average is $91.79 and its 200-day simple moving average is $90.58. The stock has a market cap of $31.34 billion, a PE ratio of 10.92, a PEG ratio of 1.13 and a beta of 0.46.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BIDU shares. Susquehanna lowered shares of Baidu from a "positive" rating to a "neutral" rating and dropped their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. StockNews.com downgraded shares of Baidu from a "buy" rating to a "hold" rating in a report on Wednesday, December 4th. Benchmark reduced their target price on Baidu from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. China Renaissance lowered Baidu from a "buy" rating to a "hold" rating and set a $86.00 price target for the company. in a research note on Monday, November 25th. Finally, Hsbc Global Res downgraded Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $113.75.

Baidu Company 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.