LPL Financial LLC Raises Stock Position in Baidu, Inc. (NASDAQ:BIDU)

LPL Financial LLC boosted its stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) by 5.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 74,597 shares of the information services provider's stock after acquiring an additional 4,178 shares during the period. LPL Financial LLC's holdings in Baidu were worth $6,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIDU. SG Americas Securities LLC raised its position in shares of Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider's stock worth $32,161,000 after purchasing an additional 227,338 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Baidu during the third quarter valued at approximately $72,000. Union Bancaire Privee UBP SA acquired a new position in shares of Baidu during the fourth quarter valued at approximately $558,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Baidu by 1,111.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider's stock valued at $30,317,000 after acquiring an additional 330,627 shares in the last quarter. Finally, Ping Capital Management Inc. increased its position in shares of Baidu by 300.0% during the fourth quarter. Ping Capital Management Inc. now owns 10,000 shares of the information services provider's stock worth $843,000 after purchasing an additional 7,500 shares in the last quarter.

Baidu Trading Up 5.4 %

Baidu stock traded up $4.26 during trading on Friday, hitting $82.73. The company had a trading volume of 7,348,818 shares, compared to its average volume of 4,184,461. The stock has a market cap of $29.01 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 2.96 and a beta of 0.33. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. Baidu, Inc. has a 1-year low of $74.71 and a 1-year high of $116.25. The company's 50 day simple moving average is $90.60 and its 200-day simple moving average is $90.09.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays raised their price objective on Baidu from $83.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Daiwa Capital Markets restated an "outperform" rating on shares of Baidu in a research report on Tuesday, February 18th. Mizuho upped their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Finally, Nomura lowered Baidu from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $111.25.

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.