Janney Montgomery Scott LLC Invests $1.20 Million in Baidu, Inc. (NASDAQ:BIDU)

Janney Montgomery Scott LLC acquired a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,406 shares of the information services provider's stock, valued at approximately $1,201,000.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in Baidu during the 1st quarter worth approximately $31,000. iA Global Asset Management Inc. purchased a new stake in Baidu during the second quarter worth about $52,000. Denver PWM LLC bought a new stake in Baidu in the second quarter worth about $67,000. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% in 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 last quarter. Finally, Grove Bank & Trust grew its position in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock valued at $77,000 after acquiring an additional 130 shares during the period.

Baidu Price Performance

NASDAQ BIDU traded up $0.52 during trading on Friday, reaching $84.58. The company's stock had a trading volume of 2,718,238 shares, compared to its average volume of 3,619,008. The firm has a fifty day moving average of $93.60 and a 200 day moving average of $93.54. Baidu, Inc. has a one year low of $79.68 and a one year high of $126.23. The stock has a market capitalization of $29.66 billion, a PE ratio of 11.14 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Wall Street Analyst Weigh In

A number of research firms recently commented on BIDU. Barclays lowered their price target on shares of Baidu from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, August 23rd. HSBC cut Baidu from a "buy" rating to a "hold" rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th. Hsbc Global Res cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Loop Capital dropped their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, August 26th. Finally, StockNews.com downgraded shares of Baidu from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $127.29.

About Baidu

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.