Sterling Investment Management LLC Invests $973,000 in Baidu, Inc. (NASDAQ:BIDU)

Sterling Investment Management LLC bought a new position in shares of Baidu, Inc. (NASDAQ:BIDU - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,238 shares of the information services provider's stock, valued at approximately $973,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BIDU. Primecap Management Co. CA raised its position in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider's stock valued at $1,033,238,000 after buying an additional 1,753,577 shares during the period. Canada Pension Plan Investment Board raised its position in Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider's stock valued at $107,247,000 after buying an additional 338,110 shares during the period. DekaBank Deutsche Girozentrale raised its position in Baidu by 103.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider's stock valued at $51,192,000 after buying an additional 295,700 shares during the period. XY Capital Ltd acquired a new position in Baidu during the second quarter valued at $23,880,000. Finally, SG Americas Securities LLC raised its position in Baidu by 337.5% during the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider's stock valued at $26,364,000 after buying an additional 193,180 shares during the period.

Baidu Stock Performance

NASDAQ:BIDU traded down $2.77 during mid-day trading on Monday, hitting $91.62. 4,396,164 shares of the company's stock traded hands, compared to its average volume of 3,674,271. The firm has a 50 day moving average of $91.83 and a two-hundred day moving average of $94.90. Baidu, Inc. has a 12 month low of $79.68 and a 12 month high of $126.23. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 12.30 and a beta of 0.49. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIDU. Jefferies Financial Group lowered their target price 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 lowered their target price on Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research note on Friday, August 23rd. Sanford C. Bernstein downgraded Baidu from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. HSBC downgraded Baidu from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Finally, Susquehanna lowered their target price on Baidu from $135.00 to $105.00 and set a "positive" rating on the stock in a research note on Thursday, September 5th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $128.36.

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.