MML Investors Services LLC Purchases 11,370 Shares of Baidu, Inc. (NASDAQ:BIDU)

MML Investors Services LLC grew its position in Baidu, Inc. (NASDAQ:BIDU - Free Report) by 453.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,877 shares of the information services provider's stock after purchasing an additional 11,370 shares during the period. MML Investors Services LLC's holdings in Baidu were worth $1,461,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter worth $52,000. Denver PWM LLC bought a new stake in shares of Baidu during the 2nd quarter worth $67,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after buying an additional 593 shares during the last quarter. Grove Bank & Trust grew its position in 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 period. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Baidu during the third quarter worth about $82,000.

Baidu Price Performance

Shares of BIDU traded down $2.77 during midday trading on Thursday, hitting $85.58. 3,569,181 shares of the company traded hands, compared to its average volume of 3,585,223. Baidu, Inc. has a one year low of $78.95 and a one year high of $120.25. The firm has a market cap of $30.01 billion, a P/E ratio of 10.47, a PEG ratio of 1.19 and a beta of 0.46. 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 stock has a 50-day moving average of $88.98 and a 200-day moving average of $90.22.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Loop Capital dropped their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Bank of America reduced their price objective on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered Baidu from an "overweight" rating to a "neutral" rating in a research note on Wednesday, November 27th. Finally, Mizuho cut their price target on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. 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 company 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.