Lee Johnson Capital Management LLC Takes Position in Baidu, Inc. (NASDAQ:BIDU)

Lee Johnson Capital Management LLC purchased a new stake in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,081 shares of the information services provider's stock, valued at approximately $1,167,000. Baidu accounts for about 0.6% of Lee Johnson Capital Management LLC's holdings, making the stock its 26th biggest holding.

A number of other large investors have also made changes to their positions in BIDU. Blue Trust Inc. grew its holdings in shares of Baidu by 26.9% in the third quarter. Blue Trust Inc. now owns 2,636 shares of the information services provider's stock valued at $278,000 after purchasing an additional 558 shares in the last quarter. JTC Employer Solutions Trustee Ltd increased its position in shares of Baidu by 22.4% during the third quarter. JTC Employer Solutions Trustee Ltd now owns 5,401 shares of the information services provider's stock worth $569,000 after acquiring an additional 990 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Baidu by 51.3% during the third quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider's stock valued at $425,000 after buying an additional 1,369 shares during the period. Naviter Wealth LLC raised its holdings in shares of Baidu by 17.0% in the 3rd quarter. Naviter Wealth LLC now owns 8,660 shares of the information services provider's stock valued at $912,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Creative Planning raised its stake in Baidu by 2.8% in the third quarter. Creative Planning now owns 49,440 shares of the information services provider's stock worth $5,206,000 after buying an additional 1,362 shares in the last quarter.

Wall Street Analysts Forecast Growth

BIDU has been the topic of a number of recent analyst reports. Hsbc Global Res downgraded Baidu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Loop Capital cut their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Citigroup decreased their price target on shares of Baidu from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, July 15th. Jefferies Financial Group dropped their price target on Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Finally, Bank of America decreased their price target on Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Baidu has a consensus rating of "Moderate Buy" and a consensus target price of $128.36.

Baidu Stock Up 2.5 %

NASDAQ:BIDU traded up $2.28 during trading hours on Friday, hitting $94.39. 4,042,073 shares of the company's stock traded hands, compared to its average volume of 3,670,763. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a market cap of $33.10 billion, a P/E ratio of 12.64 and a beta of 0.49. The stock's fifty day moving average price is $91.83 and its two-hundred day moving average price is $94.90. Baidu, Inc. has a twelve month low of $79.68 and a twelve month high of $126.23.

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.