Wellington Management Group LLP Makes New Investment in Baidu, Inc. (NASDAQ:BIDU)

Wellington Management Group LLP purchased a new stake in Baidu, Inc. (NASDAQ:BIDU - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,845 shares of the information services provider's stock, valued at approximately $2,511,000.

Other large investors have also modified their holdings of the company. iA Global Asset Management Inc. acquired a new stake in shares of Baidu during the second quarter worth $52,000. Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC increased its stake in Baidu by 630.9% during 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 period. Grove Bank & Trust lifted its stake in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after acquiring an additional 130 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of Baidu during the 3rd quarter valued at approximately $82,000.

Analysts Set New Price Targets

BIDU has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. StockNews.com downgraded Baidu from a "buy" rating to a "hold" rating in a report on Thursday, December 12th. Bank of America lowered their price target on Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a report on Friday, August 23rd. Citigroup decreased their price objective on shares of Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. downgraded shares of Baidu from an "overweight" rating to a "neutral" rating in a research report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $113.75.

Baidu Stock Performance

BIDU stock traded down $0.56 on Wednesday, reaching $89.62. The company's stock had a trading volume of 519,602 shares, compared to its average volume of 3,579,138. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu, Inc. has a 52 week low of $78.95 and a 52 week high of $120.25. The firm has a fifty day moving average of $89.67 and a two-hundred day moving average of $90.26. The company has a market capitalization of $31.43 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46.

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.